TechFlow reports that Jersey City Mayor Steven Fulop recently announced on social media that the city's municipal pension plan will invest in Bitcoin through an exchange-traded fund (ETF). While the exact investment amount has not been disclosed, it is expected to be similar to Wisconsin's 2% allocation earlier this year. Fulop stated that relevant filings are being updated with the U.S. Securities and Exchange Commission (SEC), and the investment is expected to be completed by "late summer." He emphasized that cryptocurrencies and Bitcoin are here to stay, calling blockchain one of the most important technological innovations since the internet.
Notably, public pension interest in Bitcoin is growing steadily. In addition to Jersey City, pension funds in Wisconsin and Fairfax County, Virginia, have also entered cryptocurrency investments.
