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Wisconsin Pension Plan buys $160mm btcwww.coindesk.com/business/2024/06/03/wisconsin-pension-plan-likely-to-invest-much-more-in-bitcoin-etf-says-marquette-professor/
716 sats \ 13 comments \ @elvismercury 4 Jun bitcoin
This is good for btc for the obvious reasons, but nearly as good is Wisconsin shit-talking Illinois:
“Wisconsin’s investment board has always been innovative,” he said. “This is a fully funded pension fund so in a way, they have the luxury of being able to invest for the long term. They don’t need to worry as much about liquidity as, say, the pension fund for the state of Illinois, which is only funded at 50% of its level,” he added.
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152 sats \ 5 replies \ @Undisciplined 4 Jun
Everybody loves shit talking Illinois.
Indiana has a bunch of billboards along the Illinois border that say "Indiana, A State That Works"
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42 sats \ 0 replies \ @SatsMate 5 Jun
So happy I bought the one-way ticket out of Illinois. A nightmare of a state to live in... The one good thing was the job opportunities I had in Chicago. The world is evolving though, its getting to the point where we can work from anywhere now.
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34 sats \ 0 replies \ @elvismercury OP 4 Jun
Hahaha
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21 sats \ 2 replies \ @Bell_curve 4 Jun
The problem is Chicago
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13 sats \ 1 reply \ @Undisciplined 4 Jun
Sort of. The whole state is a mess, but that's basically because Chicago inflicts it's insane policies on everyone else (St. Louis too, to a much lesser extent).
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21 sats \ 0 replies \ @Bell_curve 5 Jun
True
The state legislature is dominated by corrupt and graft
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13 sats \ 1 reply \ @Satosora 4 Jun
This is interesting. The only negative downside is that btc doesnt give a dividend, so if it stays at the current value, something else could potentially get a better returns. But as it INFLATES in value, it will become the better proposition.
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10 sats \ 0 replies \ @Bell_curve 5 Jun
It’s less than one percent of their portfolio allocation
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13 sats \ 0 replies \ @JesseJames 4 Jun
Hello Wisconsin ! :-) Smart move, Red Forman would be proud...!
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0 sats \ 0 replies \ @anon 5 Jun
good
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0 sats \ 0 replies \ @SatsMate 5 Jun
Pretty cool, I wonder how many other pensions across the world are going to start leaning into this. I'm pretty sure their capital allocators will need to pencil this out and take the right allocation, cause imagine people trying to get their money out when we see a 70% drawdown.
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0 sats \ 0 replies \ @Bell_curve 5 Jun
The State of Wisconsin Investment Board's (SWIB) initial investment of $164 million in spot bitcoin exchange-traded funds (ETFs) like BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC) is likely just a trial phase, according to David Krause, a finance professor at Marquette University.[1][3] Krause believes the SWIB, known for being innovative, is testing public reaction and assessing potential resistance to owning bitcoin.[1][3] He expects the SWIB to increase its bitcoin ETF holdings, as the current investment is negligible at around 0.1% of its $156 billion portfolio.[3][5] Krause views this as a "toe in the water" approach, anticipating the SWIB to gradually raise its bitcoin exposure to 1-2% of its portfolio.[1][2]
Sources [1] Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF, Marquette Professor Says https://www.coindesk.com/business/2024/06/03/wisconsin-pension-plan-likely-to-invest-much-more-in-bitcoin-etf-says-marquette-professor/ [2] BREAKING: Wisconsin Pension Plan Poised for Larger Bitcoin ETF ... https://cryptoadventure.com/breaking-wisconsin-pension-plan-poised-for-larger-bitcoin-etf-investment-can-it-propel-btc-price-to-new-ath/ [3] Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF ... https://finance.yahoo.com/news/wisconsin-pension-plan-likely-invest-182335859.html [4] Wisconsin pension fund now includes bitcoin - WPR https://www.wpr.org/news/wisconsin-pension-fund-bitcoin [5] Wisconsin Pension Buys $160 Million in Bitcoin ETFs https://www.ai-cio.com/news/wisconsin-pension-buys-160-million-in-bitcoin-etf/ [6] David Krause on WRS investing millions into a Bitcoin ETF https://pbswisconsin.org/news-item/david-krause-on-wrs-investing-millions-into-a-bitcoin-etf/
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0 sats \ 0 replies \ @Bell_curve 4 Jun
Republican convention is in Milwaukee
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