'The institutional investor is already paying attention to BTC and crypto'

04 Mar, 2019 | Updated: 04 Mar, 2019
by Joeri Cant
News
'The institutional investor is already paying attention to BTC and crypto'

Co-founder of Morgan Creek Digital Assets and host of the 'Off The Chain' podcast, Anthony Pompliano took to Twitter to point out that the institutional investor community is already paying attention to Bitcoin and crypto.

Chepicap recently reported that in Virginia, the $4.25 billion Fairfax County Employees' Retirement System and the $1.45 billion Fairfax County Police Officers Retirement System became the first known public pension plan to commit to a dedicated fund that invests primarily in blockchain technology firms.

Both investments were made in the Morgan Creek Blockchain Opportunities Fund, managed by Morgan Creek Digital Assets.

'As far as we know, nobody has raised money from a public pension', the co-founder of Morgan Creek Digital Assets, Anthony Pompliano said.

The 'Pomp' further stated that the institutional 'investors aren't coming, they are already here!'

Read more: Pompliano discusses $40m venture fund: "product of a lot of work."

Since June, other institutions that have invested into the fund, include a university endowment, a hospital system, an insurance company and a private foundation.

'Each investor in the fund is under the same structure, where up to 15% of the fund can be allocated to liquid cryptocurrencies, such as bitcoin', the New York-based Anthony Pompliano said.

The fundraising target was $25 million, and Morgan Creek Digital Assets oversubscribed to $40 million. However, the fund is done fundraising and will not take any more investors.

'That 15% is kind of an artificial cap because we want to make sure we are sizing the liquid investments inside of the portfolio according to the risk-return profile that liquid cryptocurrencies present', Pompliano explained.

Morgan Creek believes that certain cryptocurrencies, even though they are volatile, have enormous upside and, therefore, they want to make sure that they gain exposure to it. 'But we want to size it correctly within the portfolio.'

Read more: What does Elon Musk have to say about Bitcoin?

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