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He said the investment was part of Teachers’ strategy to learn about the crypto business and whether it gives the right balance of risks and returns. “I don’t t
by mewse-hn 4y ago
He said the investment was part of Teachers’ strategy to learn about the crypto business and whether it gives the right balance of risks and returns. “I don’t think we have the answer to that question yet,” Mr. Taylor said.
Holy shit.. they were openly investing in something they don't understand??
- snowwrestler 4y agoNobody understands crypto from a financial perspective. That's why all the big crypto companies keep dying in new and interesting ways.
- BLKNSLVR 4y agoRecently they seem to be dying in the exact same way: reinvesting customer funds.
- snowwrestler 4y agoSure, but lots of other kinds of financial institutions reinvest customer funds and don't die.
- RC_ITR 4y agoAs others have said, those who understand crypto either chose to be conniving and make money off of the scam, or they avoid it. Mr. Taylor wanted to test if he could be conniving enough to profit and he turned out not to be (very few will be in the long run).
- iudqnolq 4y agoThey have hundreds of billions, of which they set aside around 3% for risky bets. One of those risky bets failing isn't a big deal.
- brycelarkin 4y agoInvesting a small amount in an industry to learn about it is pretty common with institutional investors.
- tartoran 4y agoBut no more than $100