Cartwright’s UK Pension Fund Client Record 56% Profit on Bitcoin Investment

An unnamed UK pension fund that invested 3% of its assets into bitcoin (BTC) has recorded an impressive 56% increase in paper profits within 12 months. This unrealized gain comes despite BTC’s recent price drop to the £67,000 mark.

Pension Fund Sees 56% in Paper Profit

On October 22nd, 2024, Cartwright Pension Trusts advised the unnamed UK pension fund to purchase £1.429 million in BTC. It was only a month after that Cartwright disclosed this to the public. This was the first time a pension fund in the country would embrace cryptocurrencies.

At the time of purchase, BTC sold slightly above £51,000. Fast-forward to a year later, and the apex cryptocurrency has recorded new all-time highs. In early October, it traded above £94,200, the highest it has ever seen. However, the asset has dropped to £67,000. Even with that, the pension fund is still in substantial profit.

Sam Roberts, director of investment consulting at Cartwright, highlighted how Bitcoin has outperformed other kinds of assets and how other firms can adopt a similar move.

“[The BTC increase has] had a tangible impact on the funding level of the scheme, far exceeding the performance delivered by other major asset classes over the same period. [. . .] It’s still early days, and this remains a long-term investment, but one year on and we now have an objective example of what pension schemes could achieve if they’re willing to think differently.”

Will More Join the Bandwagon?

Roberts admitted that crypto adoption is not a “right fit” for every firm. Still, he reckons that conversations around the digital asset market are worth it.

Earlier this year, various pension funds in the UK revealed their interest in investing in cryptocurrencies like BTC. The interest came after they saw Cartwright’s client record massive profits on their bitcoin investment. This is a major shift from traditional investment options, such as gold, silver, and stocks, that these pension funds offered retirees.

Additionally, the UK government has gradually begun to lean toward crypto adoption. On December 10th, the Financial Conduct Authority (FCA) revealed that it would start to accept stablecoin payments from next year.