The mass crypto adoption and the underlying tech, the blockchain as well, has been one of the most important goals that the crypto industry set. There are a lot of exciting things going on in this direction, and they will probably continue.
Here’s how public pension funds can boost crypto adoption.
Public pension funds and crypto adoption
According to the latest reports, the public pension funds in the United States are still showing interest in digital assets.
This has been happening despite the crypto market downturn, according to a Wall Street Journal report.
The report says that investment firms such as VanEck have received inquiries on crypto investing from public pension funds across the US during the last few years.
Likening the current state of crypto assets to consumer internet technology in the early years, the Texas Association of Public Employee Retirement Systems’ executive director, Art Alfaro, stated not too long ago that crypto is an “asset class which should not be ignored,” according to the report.
The same report also notes that he said:
“Our including them in our educational forums may someday be considered like including educational sessions on the internet in the mid-90s, or the iPhone introduction in 2007, or electricity in the early 1900s.”
The Wall Street Journal report also made sure to drop a quote from Gil Luria, a strategist at investment bank D.A. Davidson.
He was quoted as saying that the hunt for attractive returns is the reason pension funds are investing in crypto assets.
“Yield chasing has been the sport of pension funds for a while and technology crypto assets overall have had such spectacular returns over the past 12 years that it’s not surprising that yield chasers would at least dip their toes into the water.”
Check out the complete report in order to learn more official details.
The mainstream adoption of crypto continues despite the massive volatility in the crypto market.