Fund for US Firefighters Invests $ 25 Million in BTC & ETH Coins
The title of being the first public fund to invest in digital assets has been earned by the firefighters of Houston, Texas where the public pension fund has invested US$ 25 Million into the two leading and worth investing crypto coins of the world namely Bitcoin (BTC) and Ethereum (ETH).
if neutral opinion is sought from crypto experts as to where one should put the money, then they would recommend, Bitcoin or Ethereum. Rightly so because both digital assets are worth investing. They are top digital coins of the world through various perspective. Their values are higher than any and their market caps again are better than any. But by positioning, Bitcoin is at number one spot while Ethereum is settling on number two positions.
Yet comparing them with each other, there is no pound-to-pound competition amongst the two. Bitcoin’s present market value is over US$ 60,000 while the value of Ethereum is above US$ 4,000. So there is huge difference between the values of both and so is in their individual market caps.
However, considering and weighing the growth levels of both digital currencies, there is no doubt that both are worth acquiring. Investing in them has been profitable for most of the people, particularly those who had been holding them for quite some time. Currently, both are riding on the rollercoaster ride. In the past 20 odd days, Bitcoin’s value has increased for more than US$ 18,000. Similarly, the value of Ethereum too has increased to a great extent i.e. approximately US$ 1,031 since 1st October to date.
Keeping in view cryptocurrencies’ phenomenal growth, a public sector department of US has utilized fund money as investment into digital currencies. It has been confirmed that the fund was “Relief & Retirement Fund belonging to Houston Firefighters. It was a fund which contained pensions for the retired firefighters who had served the help seekers living in Houston, Texas.
It was announced by Houston Firefighters on 19th October, 2021, that they had taken out a very small portion of the fund money. The money taken out has been put into acquiring a few Bitcoins and ETH coins for investment purposes. According to Houston Firefighters, they are the US’s first public fund which has taken the initiative of investing in digital currencies. They told that they had collectively invested an amount of US$25 Million and still have US$ 5.5 Billion lying into the fund. The fund caters for about 6,600 retired firefighters living in Houston, Texas.
For the purposes of the digital currency investment, Houston Firefighters engaged the services of New York Digital Investment Group (NYDIG). NYDIG is in fact a digital asset investment project which belongs to an American asset management firm called “Stone Ridge”.
The post Fund for US Firefighters Invests $ 25 Million in BTC & ETH Coins appeared first on Coinfrog.
Read more: https://coinfrog.io/fund-for-us-firefighters-invests-25-million-in-btc-eth-coins/
Text source: Coinfrog
