Bitcoin attracts the attention of the world’s largest Japanese pension fund

Bitcoin, the most expensive asset in the cryptocurrency space, appears to be attracting the attention of Japanese pension funds. Japan’s largest pension fund is considering diversifying its investment portfolio and shifting focus away from traditional assets. Japan’s Government Pension Investment Fund (GPIF) disclosed the information this week. Bitcoin’s appeal has not gone unnoticed by GPIF as it is going through a bull run with its price fluctuating between $66,000 (roughly Rs. 54 lakh) and $73,000 (roughly Rs. 60.5 lakh).

It is estimated that the assets controlled by Japan’s GPIF are worth US$1.4 trillion (approximately Rs. 1,16,22,086 crore).According to Spanish investment research company Lankia ProSince 2022, GPIF has been the world’s largest pension fund.

Looking ahead, GPIF is exploring changes that can be made to respond to the changing financial landscape. The organization is launching a five-year research program during which it will examine other investment vehicles with considerable potential.

GPIF document An overview of its bitcoin-friendly research plans published in Japanese said the company currently sees assets that need management including farmland, gold, bitcoin and more.

Until now, the institution has had limited investment options in traditional assets such as domestic and foreign stocks and bonds, aiming to minimize financial risks and ensure stable returns.

GPIF is interested in exploring Bitcoin as an investment option due to continued demand for the digital asset, according to the GPIF report crypto news explain.

Japan’s cryptocurrency market showed significant growth last year. By the end of 2023, estimated More than 5 million Japanese residents hold cryptocurrencies.

The Japanese government, led by Prime Minister Fumio Kishida, is taking a supportive stance towards the cryptocurrency industry. In January this year, Japanese e-commerce giant Mercari reportedly said it planned to accept Bitcoin payments in the coming months.