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New Jersey Pension Fund Gambles on Bitcoin Miners | Chief Investment Officer
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New Jersey pension invests in bitcoin mining stocks
New Jersey’s pension fund chased bitcoin mining stocks with multimillion-dollar bets on two of the industry’s most recognisable names, according to the disclosure documents.
The state-managed pension owned $3.66 million in Riot Blockchain and $3.39 million in Marathon Digital Holdings as of June 30.
According to disclosure records, the state-managed pension had $3.66 million in Riot Blockchain (NASDAQ: RIOT) and $3.39 million in Marathon Digital Holdings (NASDAQ: MARA) at the end of June.
New Jersey’s Common Pension Fund has a total asset value of $30 billion for state employees.
This appears to be New Jersey’s first cryptocurrency allotment. In recent months, several state-run pension funds, most notably California’s, have warmed up to bitcoin (BTC, +4.46% ) mining stocks.