Cryptocurrencies and blockchain technologies are used by 94% of US pensioners

US pension funds have begun to show more interest in cryptocurrencies, with about 94% of US pension funds and local governments investing in digital assets and crypto companies. Such data was published in a new Forbes article citing a study by the CFA Institute, a global nonprofit organization in the field of financial education.

Publicly funded pension funds are actively investing in cryptocurrencies, justifying their decision by the fact that this asset class has shown impressive returns over 12 years. At the same time, a number of experts warn of the dangers of this approach. According to Florida-based lawyer Anesa Allen Santos, no pension fund should «play with cryptocurrencies» now, as regulators are becoming increasingly negative about the use of cryptocurrencies. The expert warned that the U.S. could develop an «openly hostile» base for the industry.

Santos believes that pension fund managers need to take special care in determining the characteristics of each digital asset and monitor the cryptocurrency market for possible software changes that would make investments illegal.

The fears of the Florida lawyer are not unfounded, given the negative experience of the Canadian pension fund. At the end of July, the Caisse de Depot et Placement du Quebec (CDPQ) pension fund announced the loss of $ 150 million, all due to the bankruptcy of the Celsius cryptocurrency platform. «We realize that our investment in Celsius raises many questions. We take this very seriously and are ready to provide additional comments at the right time. Celsius is currently going through a difficult time, so it will take time to resolve all the issues,» CPDQ spokesman Maxime Chagnon said at the time. It is not yet known whether the fund has managed to recover at least some of the lost funds.