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United Kingdom-based pension specialist Cartwright reported that an “unnamed scheme” had made a 3% allocation of Bitcoin into its pension fund.
According to a Nov. 4 notice, Cartwright reported that “after a rigorous training and due diligence process,” a UK pension scheme had chosen to make the Bitcoin
BTC
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$67,495
allocation, citing its “long investment time horizon.”
The firm’s head of investment implementation, Steve Robinson, said the crypto investment would help “reduce reliance on employer contribution.”
The company did not provide additional details about the nature of the pension scheme or how much would be invested. Cointelegraph reached out to Cartwright for comment but did not receive a response at the time of publication.
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