The major United States digital asset company Morgan Creek Digital, managed to obtain $40 million in funding from investors where the some of the biggest pension funds platforms also took part according to the company’s statement released today about which we read more about in the latest crypto news.
Morgan Creek Digital launched a Digital Asset Index Fund last year in August and today has sealed the funding from two benefit plans from Fairfax County Retirement Systems.
The new fund is named Morgan Creek Blockchain Opportunities Fund and will mostly focus on investing in the industry of digital assets. The original bar for the investment was set at $25 million but increased massively due to the high interest according to the reports by the company’s CEO Anthony Pompliano.
The agreement between the two pension funds comes as a result when at the start of this year, Morgan Creek Digital CEO Pompliano, wrote a blog post about how useful Bitcoin can be in the pension sector. He stated:
“The fundraising for this fund didn’t happen overnight, so it definitely took place before that article was written.’’
There aren’t too many information in the public about the full investor deck. Bloomberg reports show that the chief investment officer of the Fairfax funds shows the same belief in Bitcoin as Pompliano who claimed:
“It will take time for pension funds to get comfortable with investing in Bitcoin. We need to educate multiple stakeholders and demystify this nascent industry. When one makes the decision, it will create a cascading effect that leads to hundreds of them jumping in.”