CandleFocus Bitcoin (BTC) Move from Billion Dollar Pension Fund! "It Was Time!"
2024-12-12
Author: Content Editor
Australian financial firm AMP has purchased $27 million worth of Bitcoin (BTC) through its pension fund. This makes AMP the first major Australian superannuation fund to invest in BTC, despite previous rejections from other fund managers in the sector due to the cryptocurrency's volatility. AMP stated that Bitcoin's growth potential is too great to ignore and has allocated approximately 0.05% of its total retirement assets under management for Bitcoin allocation. Other major Australian funds have stated that they do not plan to invest in BTC or other cryptocurrencies. The Central Bank Governor has also expressed that Bitcoin has no place in the Australian economy.
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