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Newsflash: Why This Virginia Police Department’s Pension Just Invested in a $40 Million Crypto Fund

P. H. Madore
Crypto, Morgan Creek

Frequent Bitcoin commentator and t-shirt salesman Anthony Pompliano told Bloomberg this morning that two Fairfax County, Virginia pension funds have gone in on Morgan Creek Digital’s new fund for cryptocurrency companies. The funds represent $1.2 billion in assets for the pensions of police and other public workers in the county.

$25 Million Fund Oversubscribed to $40 Million

The $40 million fund originally only sought $25 million. A small portion of its investment will be in liquid blue chip cryptos like Bitcoin and Ethereum. Investment in cryptocurrency companies will be the majority of the fund’s work, however. Coinbase and Bakkt have already been named as targets for investment.

Public pension funds affect almost 20 million Americans. Nearly 4,000 exist. If the experiment in Fairfax County goes well, and police have an even more comfortable retirement as a result, will others follow suit?


Read the full story on CCN.com.