New Jersey’s pension fund chased crypto mining’s upside last quarter with multimillion-dollar bets on two of the industry’s biggest names.
New Jersey’s Common Pension Fund D has $30 billion in total assets for state employees.
The NJ Division of Investment did not immediately reply to a request for comment.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.