CPPI Makes Wise Decision to Avoid Cryptocurrency Investments After Major Losses by Canadian Pension Funds

CPP Investment (CPPI) has resolved to not make further investments into the cryptocurrency sector. This news comes after two other leading Canadian pension funds, Ontario Teachers’ and Caisse de Depot et Placement du Quebec, experienced significant losses due to their crypto investments. CPPI CEO John Graham commented on the matter earlier this year: One needs to evaluate what the actual intrinsic value of certain assets are before integrating them into an investment portfolio. We have been researching cryptocurrencies but nothing is invested yet. The organization is currently responsible for managing $388 billion CAD in assets for 20 million Canadians. The decision to pull away from cryptocurrency investments appears to be a wise one considering Ontario Teachers’ had a full write-off of its $95 million investment with FTX exchange and Caisse de Depot et Placement du Quebec experienced a total write-down of its$150 million investment in Celsius Network.

Summary

• CPP Investment (CPPI) is no longer pursuing opportunities in the crypto investment sector.
• CEO John Graham commented that the underlying intrinsic value of these assets must be considered before investing.
• Ontario Teachers’ and Caisse de Depot et Placement du Quebec both suffered losses from their investments in the crypto sector.

What were the losses suffered by Ontario Teachers‘ and Caisse de Depot et Placement du Quebec after investing in crypto?

Ontario Teachers‘ and Caisse de Depot et Placement du Quebec suffered losses of $95 million and $150 million respectively after investing in crypto.

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Picture source: Sidra S