New Jersey Pension Invested $7M in Bitcoin Mining Stocks Last Quarter

Published on: 25.07.2021

New Jersey Pension Fund invested $7M in bitcoin mining stocks last quarter with multimillion-dollar bets on two of the industry’s biggest names.

The state-managed pension ended June with $3.66 million in Riot Blockchain and $3.39 million in Marathon Digital Holdings according to disclosure documents.

New Jersey’s Common Pension Fund D has $30 billion in total assets for state employees.

The allocation appears to be New Jersey’s first in the crypto sector. Other state-run pension schemes have also warned to bitcoin  mining stocks in recent months, most notably California’s.

The NJ Division of Investment did not immediately reply to a request for comment.

 

▶️ HEADLINES

Market Stats:
BTC Dominance: 59.3%(-0.04%/24h)
ETH Dominance: 10.97%(-0.14%/24h)
Defi Market Cap: $0B(+6.80%/24h)
Total Market Cap: $2520.23B(-1.33%/24h)
Total Trading Volume 24h: $116.9B(-8.54%/24h)
ETH Market Cap: $0B
Defi to ETH Ratio: 0%
Defi Dominance: 0%
Altcoin Market Cap: $1025.63B
Altcoin Volume 24h: $89.38B
Total Cryptocurrencies: 37402
Active Cryptocurrencies: 8409
Active Market Pairs: 114027
Active Exchanges: 934
Total Exchanges: 12054
BTC: 74661.84$(-0.65%/1H)
ETH: 2291.08$(-0.74%/1H)
AVAX: 9.16$(-0.37%/1H)
BNB: 621.21$(-0.35%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.25$(-0.29%/1H)
DOT: 1.27$(-0.16%/1H)
UNI: 3.27$(-0.3%/1H)
CAKE: 1.52$(-0.48%/1H)
SUSHI: 0.21$(-0.77%/1H)
ONE: 0$(-1.16%/1H)