The $1.7 trillion Government Pension Investment Fund (GPIF) of Japan is reportedly considering expanding its investment portfolio to include assets that are not traditionally part of its holdings. While GPIF already has allocations for domestic bonds, foreign bonds, equities, real estate, infrastructure, and private equity, it is now gathering data on real assets and bitcoin. Many commentators suggest that GPIF's interest in bitcoin is due to a proposed law in Japan that could pave the way for such investments. However, it is important to note that the law has not yet been approved at a government level. If GPIF decides to invest in bitcoin, it would mark a significant departure from its traditional investment strategy. [efcbf91b]