CandleFocus Korean Investment Giant KIC May Invest in Crypto Directly
2024-10-21
Author: Content Editor
Korea Investment Corporation (KIC) president, Park Il-young, has stated that his firm is considering investing in virtual assets once the industry achieves legal stability. KIC recently made a strategic investment of KRW 4.2 billion (approximately $3 million) in MicroStrategy. The investment was seen as an indirect way for KIC to gain exposure to Bitcoin, given MicroStrategy's significant holdings in the cryptocurrency. KIC's investment strategy prioritizes diversification into companies with a benchmark index rather than direct investments in cryptocurrencies. The National Pension Service (NPS) of Korea is also reportedly making indirect Bitcoin investments, following a similar strategy as KIC. These investment strategies highlight how most institutions are opting for indirect investments in the crypto space due to regulatory uncertainties.
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