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Bitcoin Grabs Attention of World’s Largest Pension Fund Based in Japan

Bitcoin Grabs Attention of World’s Largest Pension Fund Based in Japan

Japan’s GPIF is estimated to have $1.4 trillion (roughly Rs. 1,16,22,086 crore) worth of assets under its control.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 19 March 2024 20:12 IST

Bitcoin Grabs Attention of World’s Largest Pension Fund Based in Japan

Photo Credit: Unsplash/ Roméo A

Bitcoin is presently undergoing a bull run with price fluctuating between $66,000-$73,000

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Highlights

Japan is taking pro-crypto steps under PM Fumio Kishida
Japan hosts the largest pension fund in the world
GPIF is also considering gold, farmlands as investment options

Bitcoin, the most expensive asset of the crypto sector, is seemingly grabbing the attention of Japan's pension fund. The largest pension fund in Japan is considering diversifying investment portfolios, splitting focus from traditional assets. The information was disclosed by Japan's Government Pension Investment Fund (GPIF) this week. Bitcoin's appeal is not going unnoticeable by GPIF now that it is undergoing a bull run with its price fluctuating between $66,000 (roughly Rs. 54 lakh) and $73,000 (roughly Rs. 60.5 lakh).

Japan's GPIF is estimated to have $1.4 trillion (roughly Rs. 1,16,22,086 crore) worth of assets under its control. As per Spain's investment research firm RankiaPro, GPIF has been the world's largest pension fund since 2022.

Moving forward, the GPIF is exploring changes it can incorporate to deal with the evolving financial landscape. The organisation is launching a research programme that will span five years during which it will study other considerable potential investment tools.

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GPIF's document outlining its BTC-friendly research plans, published in Japanese, says that the assets currently considered by the firm as assets to be managed are farmland, gold, Bitcoin among others.

Up until now, the body has limited investment options into traditional assets like domestic and international stocks, bonds – aiming to minimise financial risks and ensure stable returns.

GPIF's interest in exploring Bitcoin as an investment option comes as a result of persistent demands around including the digital asset, a report by Crypto.news said.

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The crypto market in Japan has shown a notable growth in the last year. Towards the end of 2023, it was estimated that over five million Japanese residents held cryptocurrencies.

The Japanese government, under Prime Minister Fumio Kishida, is taking a supportive approach towards the crypto sector. In January this year, Japanese e-commerce major Mercari reportedly said it planning to accept Bitcoin payment in the coming months.

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