“Bitcoin now has a place at the table alongside gold, farmland and other alternative assets”— something unthinkable five years ago.
The crypto market is truly global. When the United States Securities and Exchange Commission (SEC) makes a decision about exchange-traded funds (ETFs) in New York, that immediately affects the price of Bitcoin (BTC) in Singapore.
And when Japan’s massive Government Pension Investment Fund (GPIF) announced in March that it is exploring a new diversification strategy — one that possibly includes Bitcoin — this has reverberations not just in East Asia but all over the world.
It has particular resonance because Japan is an advanced, highly regulated economy that isn’t likely to put its workers’ retirement savings at risk, especially in the GPIF, which is the world’s largest public pension plan with a $1.5 trillion investment portfolio.
