Quote from: TimeTeller on January 19, 2021, 11:48:18 PM

Quote from: Harlot on January 19, 2021, 09:25:31 PM

Maybe the first publicly known if this happens but there is a chance that this might not be the first one. Government funds especially the ones in LGUs have cash reserves that are meant for investment and most of them invest on anything they want depending on their risk factor and as long as it is legal so I won't be surprised if their analysts and fund managers have bought cryptocurrencies as a chance for growing their fund. Also for me the mayor is already late in the action and I just hope their fund manager knows that, buying in now will just give them a little space between the ATH.

If they are taking this risk, they should have studied all possible consequences already.
Investing public funds into crypto, is quite dangerous route to take.
Hard to explain to your constituents when things go sideways.
Maybe they got their inspiration from those financial institutions who are buying large chunks of bitcoin.

Well they can will and most absolutely be allocating some funds for it not the entire public funds will be spent on one investment so for me there is nothing to worry about here since they will just be risking a portion of those funds and for me that is something that their government unit can stomach with. Maybe its not one of the best times to enter and think about investing in Bitcoin but if they know how to manage their risk it will always be a high risk high rewards scenario for them also we don't even know how serious their mayor is so maybe he is just throwing it out there.