Korea Teacher's Credit Union denies plans to invest in bitcoin
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Update: The union has denied local reports that it planned to invest indirectly in bitcoin. We have updated the headline and article to reflect this.
The Korea Teacher's Credit Union, which manages $40 billion in assets, has denied local reports that it plans to start investing in bitcoin next year.
The initial report by The Korea Economic Daily said that the credit union was going to get exposure to bitcoin via investment products, such as bitcoin ETFs. This would have been the first instance of a pension fund in the country investing in bitcoin.
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Tim Copeland is the Head of Growth at The Block and host of The Crypto Beat, a live-streaming podcast. He was previously the company's Editor-in-Chief and spent seven years covering the industry as a journalist. Prior to joining The Block, Tim was a news editor at Decrypt. He earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.
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