$57B AUM Australia’s Pension Fund AMP Buys $27M in Bitcoin

Quick Summary:

Australia’s pension fund AMP has become the first major superannuation fund to buy into crypto by purchasing Bitcoin worth $27 million.

The asset class previously barred for high volatility by big fund managers has now ignited FOMO as BTC price surpassed the $100K milestone after Donald Trump’s win in the U.S.presidential election.

They are the first in the $4 trillion retirement savings industry to invest in the crypto asset class.

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Article Details

Author / Journalist: Varinder Singh

Category: Crypto

Markets: IndiaAustraliaUnited States

Topics: Pension fund Bitcoin (BTC) Price Bitcoin News 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 14:16:02 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 347 words

Reading Time: 2 minutes read

Sentences: 31 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 24379084

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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News Last Updated: 8 hours ago

Coverage Areas: India

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