The plunge in prices for Bitcoin and other cryptocurrencies in recent weeks provides a cautionary tale for the handful of public pension funds that have dipped their toes in the crypto pool over the past few years.
Mansco Perry, the board’s executive director and chief investment officer, said the board invests heavily in stock indexes, so those holdings were most likely in one of its index funds or were purchased by an outside investment manager.
The Minnesota board may look at crypto-related investments someday just to learn about them, Perry said, "but it’s not a high priority. ... I would say we’re nowhere close to making an investment decision to move forward, but that doesn’t mean we never will."known as CalPERS, took a tiny stake in 2017 in Riot Blockchain that grew to over $1.9 million by late 2020. Securities and Exchange Commission filings show it reached $5.
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