👀At the debate on 4/9, candidates for the California Public Employees' Retirement System #California (CalPERS, $506 billion) had opposing views on investing in Bitcoin.
🌍Currently, CalPERS holds 410,596 shares of Strategy (formerly MicroStrategy) worth $165.9 million, which means the fund has significant indirect exposure to Bitcoin. MicroStrategy currently holds over 636,505 $BTC (worth over $70 billion), considered a popular channel for institutions to access crypto.
🤗While candidate David Miller strongly opposes, arguing that 'crypto has no place in pension funds', opponent Dominick Bei counters that CalPERS is being contradictory by opposing directly while still investing indirectly through MicroStrategy.
Other candidates have diverse viewpoints:
Steve Mermell: firmly says 'Never!', likening crypto to Enron and the financial crisis.
👀Troy Johnson: cautious but not ruling out the possibility in the future.
Jose Luis Pacheco: rejects Bitcoin but acknowledges blockchain as a potential technology worth researching.
🌍Meanwhile, several other state pension funds have been bolder: Michigan tripled its Bitcoin ETF holdings to $11.4 million, Wisconsin holds $387 million in Bitcoin ETF, and Florida owns 240,026 shares of Strategy worth $97 million.
The November election will determine whether #CalPERS continues to take an indirect approach or opens up to direct investment in Bitcoin.
⛔ Risk warning: This article is for informational purposes only and is not investment advice. #USNonFarmPayrollReport #ListedCompaniesAltcoinTreasury #BTCvsETH $BTC
