Semler, UK, and Michigan Funds Drive Major Crypto Investments
Semler Scientific Boosts Bitcoin Holdings, Sees BTC as Future Asset
Semler Scientific has increased its Bitcoin holdings to 1,058 BTC, investing a total of $71 million, as part of a strategy to maximize stakeholder value. CEO Eric Semler emphasized a "laser-focused" approach in accumulating Bitcoin, particularly after a $2.6 million purchase post-third quarter.
This strategy reflects a shift from traditional investments, aligning with a trend among corporations, like MicroStrategy, to view Bitcoin as a valuable asset class. With Bitcoin's recent price surge, Semler aims to leverage its deflationary characteristics to strengthen its financial position while providing stakeholders exposure to potential high-growth opportunities.
UK Pension Scheme Allocates 3% to Bitcoin Investment
A UK pension scheme has made a groundbreaking 3% allocation to Bitcoin, as reported by the firm Cartwright. This decision follows a rigorous training and due diligence process, emphasizing a long-term investment strategy. Steve Robinson, head of investment implementation at Cartwright, noted that this move aims to lessen reliance on employer contributions.
Although further details about the specific scheme remain undisclosed, this investment trend aligns with a broader shift among various pension funds globally, including recent cryptocurrency engagements by South Korea's pension service and Michigan's retirement system, signaling increasing institutional adoption of digital assets.
Michigan Pension Fund Makes $11 Million Ethereum ETF Investment
The State of Michigan Retirement System has made history as the first U.S. state pension fund to invest $11 million in Ethereum ETFs, specifically Grayscale’s Ethereum Trust and Mini Trust. This investment includes around 460,000 shares in each, valued at approximately $10.07 million and $1.12 million, respectively.
Notably, Michigan's $10 million investment in Ethereum ETFs surpasses its $7 million stake in Bitcoin ETFs, indicating a strategic shift toward digital assets. This move positions Michigan among the largest holders of Ethereum ETFs, reflecting a growing interest in cryptocurrencies within state pension fund strategies amidst broader market trends.
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