Korean Teachers’ Credit Union adds BTC to its balance sheet

Korea Teacher’s credit union is adding BTC to its balance sheet. The union reportedly has nearly $ 40 billion in assets and plans to invest in BTC starting next year. In order to gain exposure to Bitcoin, the credit union plans to wait until a BTC ETF hits the market in Korea. And this is expected to happen in the first half of 2022. They have no interest in buying Bitcoin directly from exchanges.

What does that mean?

Korea Teacher’s Credit Union will be the first pension fund in South Korea to include BTC on its balance sheet. This means that in the future we can assume that other pension funds will follow suit and also allocate something to BTC. From now on I am eagerly waiting for the introduction of the first BTC ETF in South Korea.

A credit union official said, “Since there are some well-made cryptocurrency-linked ETF products from asset managers like Korean Mirae Asset Global Investments, we plan to invest in the ETF products after consulting with domestic asset managers.” They currently hold 40% of theirs Assets in alternative investments, 10% in domestic and 9% in foreign stocks. So a hefty addition of BTC will give the portfolio an excellent balance.

Other pension funds that add BTC

While Korea Teacher’s Credit Union plans to include BTC on its balance sheet, the Houston Fund has already done so. They look after 6,600 active and retired firefighters and their families. Active pay 9% of their salary into the fund, and the fund adds more than double that. It is currently valued at around $ 5.5 billion and invested $ 25 million in BTC and ETH. This shows that adoption rates are skyrocketing as the price of BTC hit an all-time high.

I think it happens the time that we will see BTC and crypto everywhere. Adoption is at its peak; Almost every company, fund, bank participates in Bitcoin in one way or another. Maybe this is what it looks like before a parabolic bull run.

What do you think of KoreaTeacher’s Credit Union’s inclusion of BTC? And do you think that other pension funds will soon follow in the country? Let us know in the comments below. If you found our content informative, like it and share it with your friends.

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