Korea National Pension Service: Investing in stocks like Coinbase and MicroStrategy is not for investing in cryptocurrencies

2024-09-30 14:44:22

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ChainCatcher news, according to Money Today, the National Pension Service (NPS) of South Korea has clarified that its investments in companies like Coinbase and MicroStrategy are not aimed at investing in cryptocurrencies such as Bitcoin. Instead, these companies were included in the NPS portfolio by chance, related to their presence in the benchmark index tracked by the NPS or decisions made by external managers under trust management.

The agency stated that any decisions to sell or limit investments in crypto-related stocks are determined by the Fund Management Committee. This committee is responsible for approving any restrictions on investments in specific industries or corporate groups and adjusts the benchmark index as needed before implementing such changes.

Previous news reported that the National Pension Service of South Korea increased its indirect exposure to Bitcoin by acquiring MicroStrategy shares.

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