GPIF Pours $4.7 Billion into Bitcoin Amid US Dollar Reserves Decline

The Government Pension Investment Fund (GPIF) has made waves in Japan's financial landscape by allocating $4.7 billion to Bitcoin, a move that follows its research into illiquid alternative assets like gold and farmland.

The GPIF manages over $1.5 trillion in assets for 67 million citizens, with 97% of these holdings consisting of domestic and foreign bonds and stocks.

The fund's executive director, Aiyu Kiguchi, has been studying the potential benefits of cryptocurrency for six years, citing his desire to hedge against the US dollar losing its global reserve status.