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A pension fund for firefighters in Houston has made a purchase in bitcoin and ether facilitated by portfolio company NYDIG. The Houston Firefighters’ Relief and Retirement Fund’s (HFRRF) purchase marks the first time a public pension plan in the U.S. has announced an investment in digital assets, according to an announcement this week.
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“I see this as another tool to manage my risk,” Bloomberg quoted Ajit Singh, the chief investment officer for fund, as saying. “It has a positive expected return, and it manages my risk. It has a low correlation to every other asset class.”
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