Life and annuity companies are increasingly dedicating part of their asset base to Bitcoin (BTC). While the top crypto has delivered the best returns over the past decade, the long-talked-about institutional herd seems to be finally making its way to the BTC market.
During the bear market of 2018, Bitcoin developmental efforts from multiple stakeholders seemed to focus on improving BTC’s regulatory stance. These efforts saw the emergence of institutional-grade custody platforms among other prerequisites needed for greater participation by regulated entities.
Over the last year, publicly listed firms have begun to add Bitcoin to their balance sheets, citing fiat currency debasement concerns. Significant cash influxes by major central banks to support stimulus packages enacted by governments to soften the economic blows struck by the coronavirus pandemic has market commentators fearful of rising inflation.
With pension funds and insurance joining other public corporations in investing in Bitcoin, attention is now shifting to whether governments themselves will begin to invest in BTC via