British pension fund Cartwright, known for its specialization in hybrid pension plans, announced on Monday the allocation of 3% of the value of its fund in bitcoin (BTC). This decision, described as a “bold step”, reflects the progressive nature of the trustees involved, according to the entity.

According to Cartwright, the move is in line with a long-term investment strategy, supported by robust risk management at both asset and scheme levels, they argued.

The assignment, which was the first of its kind in the UK and was valued at more than $60 million, was reportedly carried out following a training and due diligence process.

Sam Roberts, investment advisory director at $2bn pension fund Cartwright, said : “Trustees are increasingly looking for innovative solutions to future-proof their plans in the face of economic challenges.”

“This Bitcoin allocation is a strategic move that not only offers diversification, but also takes advantage of an asset class with a unique asymmetric risk-return profile,” Roberts told local press.

Roberts added: “Our approach ensures that schemes can benefit from the significant potential upsides, whilst limiting the potential downsides. Integrating bitcoin into a pension scheme’s investment strategy is a bold step that reflects the forward-thinking nature of the trustees involved.”

According to reports, the solution created by Cartwright, a fund created more than 30 years ago, has a minimum investment threshold, making this option available to pension plans of all sizes.

“We are confident that this strategic move, coupled with our safe custody approach, will provide long-term value to plan members, while offering an innovative way to reduce reliance on employer contributions,” Roberts said.

This is not the first time Cartwright has shown interest in BTC. As recently as October, Glenn Cameron, a senior investment consultant at the firm, highlighted the difference between Bitcoin and other cryptocurrencies, mentioning that BTC is “completely different” due to its “finite nature.”

Pension funds’ interest in bitcoin is not an isolated phenomenon. Earlier this year, the Japanese Government Pension Investment Fund, the largest in the world, was exploring the idea of ​​investing in BTC. This trend suggests a growing recognition of bitcoin’s potential within long-term investment strategies.

The expectation about the impact of these funds is high. Standard Chartered bank has predicted that BTC could reach USD 200,000, driven by the inflow of pension funds, reflecting widespread optimism about the role of cryptocurrencies in the future of long-term investments.