One of the top 10 sovereign wealth funds in the world, Singapore’s Temasek Holdings, said it doesn’t currently own any Bitcoin and claims that it is prepping for tokenized assets. It is also actively engaged in blockchain investments and seeking growing opportunities in the industry.
Temasek did not say anything on direct investing activities but confirmed that it does not own Bitcoin currently, as per Pradyumna Agrawal, the fund’s managing director for blockchain investment.
“But that is not a statement on whether we like Bitcoin or whether we want to own Bitcoin or not. That is just a factual statement of fact,” Agrawal said in an interview.
His comments were related to last year’s news which claimed that Temasek, valued at about S$381 billion (US$274 billion), was purchasing Bitcoin.
The reports spread previously were “misinformation which we have chosen not to comment on,” Agrawal commented. Anyhow, Temasek is extremely focused on “backing the best projects”.
“We can gain exposure or seek to gain exposure to areas which we think are of interest to us and will deliver appropriate risk-adjusted returns” Agrawal stated.
“It’s within our mandate to be able to own tokens” added Agrawal. Yet if Temasek wants to directly hold and act on tokens, “you need a completely different set of infrastructure.”
He added that, as per him, it will need some time to ensure that it meets the operating risk requirements of Temasek and that they can do it at scale.
Temasek has been in the news quite frequently as it has been taking some huge steps to grow and spread further in the industry. In February, crypto startup Amber Raised $200M From Temasek in a Series C funding round.
