A UK pension scheme has become the first in the country to invest in Bitcoin, following recommendations from Cartwright.

Cartwright's Bitcoin Investment Advice

The UK's first defined benefit pension fund, with guidance from Cartwright, has allocated 3% of its assets to Bitcoin. This move is the first of its kind in the UK's pension fund industry, following detailed discussions on ESG and security.

Pioneering Move in the Industry

In addition to investing in the pension fund, a Bitcoin Employee Benefits scheme has been launched, allowing employers to deposit Bitcoin directly into employee wallets. Five companies have shown interest in this initiative, indicating growing institutional openness towards cryptocurrency in compensation packages.

Future of Institutional Cryptocurrency Investments

Cartwright's efforts align with making Bitcoin more accessible to institutions in the UK. The consultancy hopes this sets a precedent for other pension funds to consider Bitcoin as an asset class. Despite Bitcoin's volatility, Cartwright believes it can fit within a long-term, liability-driven strategy, offering diversification benefits.

This pioneering step by a UK pension fund, supported by Cartwright, could open a new era of institutional cryptocurrency investments, influencing pension schemes' asset allocation strategies.