{"id":1799,"date":"2024-05-16T06:33:13","date_gmt":"2024-05-16T06:33:13","guid":{"rendered":"https:\/\/cryptd.in\/wisconsin-state-btc-investment-could-cause-chain-reaction-from-other-states\/"},"modified":"2024-05-16T06:33:13","modified_gmt":"2024-05-16T06:33:13","slug":"wisconsin-state-btc-investment-could-cause-chain-reaction-from-other-states","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sk\/wisconsin-state-btc-investment-could-cause-chain-reaction-from-other-states\/","title":{"rendered":"Invest\u00edcie do BTC v \u0161t\u00e1te Wisconsin by mohli sp\u00f4sobi\u0165 re\u0165azov\u00fa reakciu z in\u00fdch \u0161t\u00e1tov"},"content":{"rendered":"

In a filing with the Securities and Exchange Commission this week, the State of Wisconsin Investment Board (SWIB) reported investments in spot Bitcoin ETFs from BlackRock and Grayscale.<\/p>\n

According to SWIBs Form 13F<\/a> for Q1 2024, the $156 billion pension fund purchased $64 million worth of Grayscale\u2019s GBTC, and $99.2 million worth of BlackRock\u2019s IBIT<\/a>, with a total Bitcoin investment of just over $163 million.<\/p>\n

The filing suggested that the crypto investment could be used for the Wisconsin Retirement System.<\/p>\n

Other States to Follow?<\/h2>\n

On May 15, macroeconomics analyst \u201cMacro Scope\u201d suggested that other states would start to follow suit now that BTC investments can be easily accessed through regulatory-approved spot ETFs<\/a>.<\/p>\n

\u201cEvery state is doing this math right now. And the disclosure yesterday by Wisconsin will now become part of those conversations.\u201d<\/p>\n

Read the whole thread especially the part about liabilities. Every state is doing this math right now. And the disclosure yesterday by Wisconsin will now become part of those conversations. https:\/\/t.co\/4hxGT3DyOs<\/a><\/p>\n

\u2014 MacroScope (@MacroScope17) May 15, 2024<\/a><\/p>\n\n

The comments come in response to member of the New Hampshire House of Representatives, Keith Ammon, extolling the virtues of Bitcoin investments earlier this week.<\/p>\n

On May 13, Ammon asked, \u201cShould the State of New Hampshire investigate allocating a small percentage of its reserves into a Bitcoin ETF?\u201d<\/p>\n

He added that hindsight was a great thing, but had the State of New Hampshire put just 5% of its 2016 \u201crainy day fund\u201d into Bitcoin and held it, \u201cthat amount of BTC today would be worth nearly half a billion dollars, a 10,000% ROI.\u201d<\/p>\n

Ammon, who commented<\/a> on dollar devaluation on May 16, continued to say that New Hampshire has outstanding liabilities to the state pension system of $1.25 billion, asking how they could climb out of that hole.<\/p>\n

\u201cThe answer may be staring us in the face, and it\u2019s worthy of further investigation.\u201d<\/p>\n

Your dollars have lost 25% of their purchasing power just in the last three years.<\/p>\n

What will a dollar be worth when it\u2019s time for you to retire, and how many will you need to be able to afford basic necessities? pic.twitter.com\/5d9hzMVPdD<\/a><\/p>\n

\u2014 Rep. Keith Ammon (@RepKeithAmmon) May 16, 2024<\/a><\/p>\n\n

Big Banks, Funds Buying BTC<\/h2>\n

In a separate post to X, Macro Scope said that Wisconsin\u2019s disclosure was getting highlighted in industry publications before adding, \u201cThis will be widely discussed in the public and private investment sectors in coming weeks and months.\u201d<\/p>\n

On May 15, crypto industry observer \u201cMarty Party\u201d commented<\/a>:<\/p>\n

\u201cDon\u2019t underestimate this State of Wisconsin Investment Board buying Bitcoin ETFs. This will start a chain reaction,\u201d<\/p>\n

The Wisconsin SEC filing followed similar filings from major banks, including JPMorgan Chase and Wells Fargo<\/a>, disclosing around $760,000 and\u00a0 $143,000 invested respectively in spot Bitcoin ETFs.<\/p>\n

On May 15, one of the world\u2019s largest hedge funds, Millennium Management, revealed a whopping $2 billion in holdings in spot Bitcoin ETFs.<\/p>\n

Pr\u00edspevok Invest\u00edcie do BTC v \u0161t\u00e1te Wisconsin by mohli sp\u00f4sobi\u0165 re\u0165azov\u00fa reakciu z in\u00fdch \u0161t\u00e1tov<\/a> sa objavil ako prv\u00fd na CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

In a filing with the Securities and Exchange Commission this week, the State of Wisconsin Investment Board (SWIB) reported investments in spot Bitcoin ETFs from BlackRock and Grayscale. According to SWIBs Form 13F for Q1 2024, the $156 billion pension fund purchased $64 million worth of Grayscale\u2019s GBTC, and $99.2 million worth of BlackRock\u2019s IBIT, […]<\/p>\n","protected":false},"author":0,"featured_media":1800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nWisconsin State BTC Investment Could Cause Chain Reaction From Other States - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sk\/wisconsin-state-btc-investment-could-cause-chain-reaction-from-other-states\/\" \/>\n<meta property=\"og:locale\" content=\"sk_SK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wisconsin State BTC Investment Could Cause Chain Reaction From Other States - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"In a filing with the Securities and Exchange Commission this week, the State of Wisconsin Investment Board (SWIB) reported investments in spot Bitcoin ETFs from BlackRock and Grayscale. 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