Bitcoin is attracting the attention of the world’s largest pension fund, based in Japan

Bitcoin, the most expensive asset in the crypto sector, seems to be attracting the attention of a Japanese pension fund. Japan’s largest pension fund is considering diversification of investment portfolios, shifting focus away from traditional assets. The information was revealed by Japan’s Government Pension Investment Fund (GPIF) this week. Bitcoin’s appeal has not gone unnoticed by the GPIF now that it is undergoing an upswing, with its price ranging between $66,000 (roughly Rs. 54 lakh) and $73,000 (roughly Rs. 60.5 lakh).

Japan’s GPIF is estimated to have $1.4 trillion (roughly Rs. 1,16,22,086 crore) in assets under its control. According to the Spanish investment research firm RankiaProGPIF is the world’s largest pension fund as of 2022.

Moving forward, GPIF is exploring changes it can incorporate to address the evolving financial landscape. The organization has launched a research program that will span five years, during which it will study other significant potential investment vehicles.

GPIF document outlining its research plans for BTC published in Japanese, it says that the assets currently considered by the firm as assets to be managed are farmland, gold, bitcoin, and more.

Until now, the authority had limited opportunities to invest in traditional assets such as local and international shares, bonds – in order to minimize financial risks and ensure stable returns.

GPIF’s interest in exploring bitcoin as an investment option comes as a result of ongoing demands surrounding the inclusion of the digital asset, a report by crypto.news said.

The crypto market in Japan has shown remarkable growth over the past year. By the end of 2023, it was appreciated that over five million residents of Japan own cryptocurrencies.

The Japanese government, under Prime Minister Fumio Kishida, is taking a supportive approach to the crypto sector. In January of this year, Japanese e-commerce company Mercari announced plans to accept bitcoin payment in the coming months.