The Bloomberg news agency announced the first pension funds that decided to invest capital in the cryptocurrency industry.
Morgan Creek Digital is the first company in the world that has launched a cryptocurrency fund, in which pension funds are the key investors.
According to an official statement of the company, two pension funds with an American headquarters in Fairfax, Virginia have become the most significant investors in the new venture capital fund, which manages assets worth more than $ 40 million.
According to Anthony Pompliano (CEO and founder of Morgan Creek Digital) – among other investors of the fund there are, among others a large insurance company, university foundation, as well as a private foundation.
It is worth mentioning here that the cryptocurrency industry is becoming more and more popular among institutional investors who, guided by the vision of high returns from their investments and tempted by the potential of large profits – are eager to invest their capital in this difficult market.
Fairfax Count Retirement System manages three separate retirement plans, two of which decided to invest in the Morgan Creek Digital fund.
Anthony Pompliano said that his new fund has a structure similar to a traditional venture capital fund that will invest in shares in blockchain companies and digital currencies. He also added that the same fund has a small percentage of its assets in the form of liquid cryptocurrencies, such as BTC.
Pompliano, in an interview for the news agency Bloomberg stated:
„In the world of institutional investors, there is a perception that if a branch operates for a very long time, it is extremely valuable. Intelligent money is not distracted by the price. At the same time, he looks at long-term trends and believes strongly that he is focusing on innovation as an effective way to provide return rates with limited risk.”
Morgan Creek Digital is part of a large investment management company – Morgan Creek Capital Management LLC. According to his idea – all traditional assets will be represented in the future by digital currencies, and the inflow of intellectual capital to the virtual tokens industry will bring positive returns.