Fairfax County official unveils plans
Katherine Molnar, chief investment officer of Fairfax County Police Officers’ Retirement System, unveiled plans for one of the first counties in the United States to invest retirement money in crypto-related investments in 2019 at the Milken Institute Global Conference in Los Angeles on Tuesday. .
According to Molnar, the funds, if approved by Fairfax County authorities, will be used to provide liquidity to decentralized exchanges or DEXs. Moreover, she confirmed that a minimum return of around 9% is expected and that as of now, the country’s total crypto-related investments represent 8% of the entire portfolio.
The county recently took a major step into the world of crypto as the Fairfax County Police Officers Retirement System and the Fairfax County Employees Retirement System invested $50 million in the main fund of Parataxis Capital Management LLC, which focuses on buying cryptocurrencies and crypto-based. derivatives.
Fidelity has similar plans
As noted in an earlier Kripteu Magazine report, Fidelity Investments, an American multinational financial services company that is also the largest 401(k) provider in the United States, will allow employees to put their retirement funds in bitcoin. However, the employer must agree to let the employees do the same. So far, MicroStrategy has become the first company to take advantage of this new Fidelity offering, with many more likely to follow.