Is Your State Pension Now Gambling On Cryptocurrency?

Why would 94% of America's state and local government pensions invest in the cryptocurrency market when Warren Buffett says it is worthless?

Because they believe the reward will be high, despite the increased risk of recognizing Buffet's warnings of cryptocurrencies being worthless.

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Despite their high risk, public pensions invest in crypto markets. However, several people are concerned about hostility towards holders of cryptocurrencies from federal agencies, so any pension funds should wait before investing.

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Both the SEC and CFTC want to regulate Bitcoin. Still, blockchain developers are trying to mimic it to avoid regulatory enforcement.

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However, it is difficult as regulations for cryptocurrencies vary across countries. Furthermore, a new technology office at the CFTC will trigger more enforcement action.

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Litigation against pension funds investing in cryptocurrency is targeted explicitly by FinCEN, which has authority over financial institutions, money transmitters, and others.

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If a pension fund invests in an NFT, it must do so with extreme care since it is unclear if its investments will be considered legal. In addition, older funds do not know the necessary to identify whether a digital asset is accurate and risky.

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Why would 94% of America's state and local government pensions invest in the cryptocurrency market when Warren Buffett says it is worthless?

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