Utility of Holding Cryptocurrency Investments in Singapore Sovereign Wealth Funds' Portfolios

11 Assoc Prof Jamus Jerome Lim asked the Prime Minister and Minister for Finance whether the Ministry considers there is utility in holding cryptocurrency, such as Bitcoin, in Singapore sovereign wealth funds' holdings.

Mr Chee Hong Tat: Our investment entities make professional investment decisions with a long-term orientation. They invest in assets anchored to underlying economic fundamentals and with the potential for longer-term value increase. Cryptocurrencies do not fit this profile. They are highly speculative instruments, prone to extreme price volatility and lack intrinsic value derived from cash flows, earnings or tangible assets.