Houston Firefighters' Relief and Retirement Fund Puts $25M in Bitcoin and Ether
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Established in 1937, Houston Firefighters' Relief and Retirement Fund (HFRRF), has invested $25 million in bitcoin (EXANTE: Bitcoin) and ether (ETH). According to a press release, the fund purchased the cryptocurrencies with the help of the New York Digital Investment Group (NYDIG), a cryptocurrency asset manager.

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"This investment expresses our belief in the disruptive potential of distributed ledger technology for the development and democratization of value accumulation through disintermediation," said Ajit Singh, HFRRF's CIO.

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NYDIG says the partnership with HFRRF will enable the plan to leverage full-stack platform on behalf of its benefactors. As of press time, HFRRF's benefactors include over 6,600 active and retired firefighters and survivors of firefighters. Previously, Wells Fargo, a multinational financial services company, in a cooperation with NYDIG and FS Investments registered a private bitcoin fund with the US Securities and Exchange Commission.

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