Bitcoin
$47,264.34-2.45%
Ethereum
$3,343.50-4.36%
XRP
$1.07-2.05%
Cardano
$2.34-2.38%
Polkadot
$33.83-5.20%
Stellar
$0.317200-2.35%
Dogecoin
$0.236882-2.91%
Chainlink
$27.91-3.73%
Uniswap
$23.85-3.56%
Polygon
$1.34-4.00%
Litecoin
$177.24-2.70%
Bitcoin Cash
$614.07-3.11%
Algorand
$2.02+2.07%
Cosmos
$38.80+2.32%
Wrapped Bitcoin
$47,339.77-2.55%
Filecoin
$82.88-2.36%
The Graph
$0.822991-1.95%
Tron
$0.104681-2.33%
Ethereum Classic
$55.80-3.01%
Aave
$344.05-6.02%
Tezos
$6.21-4.60%
EOS
$5.07-3.07%
NEO
$48.00-1.63%
Monero
$264.84-1.65%
IOTA
$1.57-5.20%
BitTorrent
$0.003872-2.45%
Bitcoin SV
$156.90-0.70%
Waves
$27.97-4.97%
Maker
$2,805.27-2.45%
Dash
$195.07-4.42%
Decred
$138.30-5.45%
Decentraland
$0.810333-1.79%
ICON
$1.86-4.24%
NEM
$0.180026-2.89%
Zcash
$137.06-1.79%
OmiseGO
$9.61+11.52%
Qtum
$12.24-2.96%
NuCypher
$0.326488-1.90%
Bitcoin Gold
$64.67-3.71%
Yearn Finance
$33,130.03-3.31%
Basic Attention Token
$0.741000-3.39%
0x
$1.08-2.52%
Paxos Standard
$0.990844-0.92%
Ren
$0.942574-7.67%
Bancor
$4.01-3.56%
Fetch.ai
$0.805647-6.35%
Band Protocol
$9.16-2.32%
Siacoin
$0.018375-1.86%
Kava.io
$6.09-2.69%
Nano
$5.69+2.43%
Loopring
$0.456651-1.19%
Storj
$1.35-4.39%
Lisk
$3.63-0.30%
Civic
$0.513142-4.91%
Numeraire
$45.37-8.88%
Orchid
$0.365837-1.52%
PAX Gold
$1,773.67+0.46%
Augur
$25.52-2.92%
Aragon
$6.27+4.04%
Enzyme
$119.22-6.78%
district0x
$0.181020+0.97%
Kyber Network
$1.76-3.81%
SingularDTV
$0.001479+0.65%
Tether
$1.00+0.04%
USD Coin
$1.00+0.07%
Dai
$1.00+0.01%

New Jersey Pension Invested $7M in Bitcoin Mining Stocks Last Quarter

The $30 billion pension took stakes in Riot Blockchain and Marathon Digital Holdings in a first for the state.

Jul 23, 2021 at 5:27 p.m. UTC
Updated Sep 14, 2021 at 1:30 p.m. UTC

New Jersey’s pension fund chased crypto mining’s upside last quarter with multimillion-dollar bets on two of the industry’s biggest names.

The state-managed pension ended June with $3.66 million in Riot Blockchain (NASDAQ: RIOT) and $3.39 million in Marathon Digital Holdings (NASDAQ: MARA), according to disclosure documents.

New Jersey’s Common Pension Fund D has $30 billion in total assets for state employees.

The allocation appears to be New Jersey’s first in the crypto sector. Other state-run pension schemes have also warmed to bitcoin mining stocks in recent months, most notably California’s.

The NJ Division of Investment did not immediately reply to a request for comment.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...