Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase

Here’s another exampleof cryptocurrency moving into people’s daily lives and the public finally catching on to the power of Bitcoin and cryptocurrency

Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase

“A pension fund for firefighters in Houston has made a purchase in bitcoin and ether facilitated by bitcoin investment firm NYDIG.

  • The Houston Firefighters’ Relief and Retirement Fund’s (HFRRF) purchase marks the first time a public pension plan in the U.S. has announced an investment in digital assets, according to an announcement Thursday.
  • The fund has invested $25 million in bitcoin and ether, though it has not disclosed how this is split between the two. The fund holds over $4 billion in total assets, according to Bloomberg
  • ‘I see this as another tool to manage my risk,” Bloomberg quoted Ajit Singh, the chief investment officer for fund, as saying. “It has a positive expected return, and it manages my risk. It has a low correlation to every other asset class.’”



Master Asked on October 21, 2021 in Cryptocurrency.
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