The pension fund of Jersey City, New Jersey, will invest in Bitcoin ETF

2024-07-26 10:50:17

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ChainCatcher News, Jersey City Mayor Steven Fulop announced on Thursday that the city's pension fund will allocate a certain percentage of its investments to Bitcoin exchange-traded funds (ETFs).

Fulop wrote on social media platform X that Jersey City's pension fund is updating its filings with the SEC, similar to the pension fund in Wisconsin. The mayor estimated that this process will be completed by the end of summer. Fulop stated, "The question of whether cryptocurrency and Bitcoin will continue to exist is basically settled; cryptocurrency and Bitcoin have won. I have always believed in cryptocurrency (through ups and downs), but broadly speaking, aside from cryptocurrency, I do believe that blockchain is one of the most important new technological innovations since the internet."

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