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Ministry of Finance (MOF)
Parliamentary Replies

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

Topics

Government Reserves

4 March 2025

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Parliamentary Question by Assoc Prof Jamus Jerome Lim:

To ask 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.

Parliamentary Reply by Second Minister for Finance, 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.