The Houston Firefighter pension fund bought Bitcoin and Ethereum worth $ 25 million

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The Houston Firefighters Relief and Retirement Fund (HFRRF) has jumped on the move of cryptocurrency with an investment of $ 25 million in BTC and ETH. The allocation was possible through a partnership with the New York Digital Investment Group (Nydig).

The 21st October Press release outlined the partnership between the two organizations and read that Nydig has made it easier to invest through one of her regulated, tested and insured fund. It was the first such assignment from a public pension plan in the United States.

"We are pleased to take this first step into the world of digital assets. The investment expresses our belief in the disruptive potential of distributed Ledger technology for the development and democratization of the increase in value through Disintermediation." - commented on the CIO of Hfrrf - Ajit Singh.

As one of the largest pension organizations in Texas, more than 6,600 active and retired firefighters and survivors of firefighters are among the beneficiaries of Hfrrf. While the HFRRF is the first US pension fund that is accumulated by BTC (or ETH), it is not the first conservative US organization to do this. Massalism, a huge insurance company with investment accounts of almost $ 300 billion, took his first step in December 2020 by Kauf Bitcoin worth $ 100 million. Later also the institution put together with Nydig to give some of his customers access to the primary cryptocurrency. .