South Korean Sovereign Wealth Fund KIC Plans to Increase Exposure to the Metaverse

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline

South Korea’s sovereign wealth fund, Korea Investment Corporation (KIC), recently expressed its desire to increase investment in Silicon Valley startups and increase exposure to the metaverse, artificial intelligence and alternative assets. In an interview with South Korean media, KIC CEO Seoungho Jin said that while some believe Silicon Valley is ‘saturated’, it remains a source of global growth. Alternative assets could make up 25% of KIC’s portfolio by 2025, and the fund’s exposure to alternatives was about 17% last year. At present, the scale of assets under management of KIC has exceeded 200 billion US dollars.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to the CME FedWatch tool, the probability of the Fed maintaining interest rates in the range of 0%-0.25% in March is 0%, the probability of raising interest rates by 25 basis points is 5.3%, and the probability of raising interest rates by 50 basis points is 94.7%. Bitcoin price dipped to $43,200 after the 7.5% increase in the U.S. consumer price index was released on Feb. 10. However, the price continues to trade near the resistance level at $45,500, which means that bulls are not giving up. If the bulls push the price above this level with heavy volume, we could see the price could rise to $50,000.

 

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.