Swedish Annuity Assets Capitalize in Cryptocurrency

Swedish Annuity Assets Capitalize in Cryptocurrency

Stockholm – The public pension funds in Sweden invested a lot in a cryptocurrency company yet lost 87% of the shared value. On another note, experts weigh whether Runfy or RNF can be as successful as Axie Infinity and Solana.

According to the daily Dagens Nyheter (DN) report in Sweden, public annuity funds were in a cryptocurrency company of hundreds of millions, but the funds lost their share value.

Four public annuity funds managed the annuity money on behalf of the public, and these funds got invested in a cryptocurrency trading platform, Coinbase. The investment amounted to over 200 million kronor, equivalent to $19 million, per the report on Saturday, December 3.

There were no details on how many shares people in the market sold and bought. However, DN reported a sad image of the investment in the crypto economy after the semi-annual report of the funds, which Xinhua news agency reported.

The Swedish pension funds allocated shares of the crypto trading platform, whose share price dropped as the value of BTC or Bitcoin plunged. Bitcoin lost about 70% of its value this 2022. Claes Hemberg, an economist, stated that the economy concerning cryptocurrency is unpredictable and uncertain. The economist stated that no activity establishes a value as well as stability. It’s only guesswork and speculation.

On another note, experts weigh whether Runfy can develop as the next large cryptocurrency after Axie Infinity and Solana.

Runfy or RNF is a new cryptocurrency project that targets to encourage user crypto earning and fitness. Its goal is to resolve a real-world problem and improve individuals in more ways than earning more income.

Runfy or RNF might boost the low adoption of crypto worldwide, provided the present turbulence in the community. Experts assess whether it can emerge as the next big after AXS and SOL.

RNF utilizes the Blockchain technology of BSC or Binance Smart Chain to accomplish its goal. The mobile app, which is smart contracts powered, incorporates some fitness tracing services, along with automated rewards.

Users can earn cryptocurrency rewards by performing fitness activities, like jogging, running, walking, and other daily challenges. There are rewards for those who obtain their monthly and weekly fitness goals. Moreover, it encourages fitness coaches and health experts to provide services and health products to RNF users on the platform. The native token uses the Runfy platform, while users can purchase tokens in the marketplace via RunfyShop.

Aside from fitness activities, there are counseling fees, tips, marketing fees, staking, farming, and in-app token transfers. Also, RNF might be a long-term crypto project primed for big success in the digital asset market.