The world’s largest fixed income fund lost $ 165 billion in the first quarter. This corresponds to the total market capitalization of Bitcoin. The world’s largest fixed income fund lost $ 164.7 billion in the first quarter of 2020. This corresponds to the total market capitalization of Bitcoin (BTC).
Bitcoin is no better
The Japanese Government Pension Investment Fund (GPIF) fell by almost 11 percent to the equivalent of 1.4 trillion. U.S. dollar. This was the largest quarterly decline for the fund since 2008. The GPIF is not the only one that has developed poorly. Major stock indexes, such as the Dow Jones, also posted negative numbers. Interestingly, the development of Bitcoin was almost identical. The price also fell about 11 percent from January 1 to March 31. Bitcoin fans cannot argue here for the supposed status as a safe haven for Bitcoin.
Only 0,1 percent would be 1.5$ billion now
However, if the GPIF had invested only 0.1 percent of its assets under management or $ 1.5 billion in Bitcoin at the beginning of the first quarter, this would have created extreme buying pressure on the market. This would probably have resulted in a massive Bitcoin bull run and positive returns for the crypto portion of the bond fund’s portfolio.