South Korea’s teachers’ credit union adds BTC to its balance sheet


South Korea’s teachers’ credit union adds BTC to its balance sheet. Reports suggest the union has nearly $ 40 billion in assets and plans to start investing in BTC from next year. To gain exposure to Bitcoin, the credit union plans to wait for the launch of a BTC ETF in Korea. And this is expected to happen in the first half of 2022. They have no interest in buying Bitcoin directly from the exchanges.

What does it mean?

Korea Teacher’s Credit Union will become the first pension fund in South Korea to add BTC to its balance sheet. This means that in the future we can expect other pension funds to follow suit and allocate something to BTC as well. For now, I look forward to the launch of the first BTC ETF in South Korea.

A credit union official said: “As there are well-designed cryptocurrency-related ETF products by asset managers such as Mirae Asset Global Investments in Korea, we plan to invest in ETF products afterwards. consultation with national asset managers. ” At present, they have 40% of their assets in alternative assets, 10% in domestic stocks and 9% in foreign stocks. So, a large addition of BTC will add excellent balance to the portfolio.

Other pension funds adding BTC

While the Korea Teacher’s Credit Union is considering adding BTC to its balance sheet, the Houston fund has already done so. They take care of 6,600 active and retired firefighters and their families. Active people contribute 9% of their salary to the fund, and the fund adds more than double. At present, he is estimated to have around $ 5.5 billion in assets and has invested $ 25 million in BTC and ETH. This shows that, as the price of BTC hits an all-time high, adoption rates are skyrocketing.

I think it’s happening, the period when we’ll see BTC and crypto everywhere. Adoption is at its peak; almost all companies, funds, banks get involved with Bitcoin in one way or another. Maybe that’s what it looks like before a parabolic bull run.

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

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