Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund, is contemplating adding Bitcoin to its $1.5 trillion portfolio.

The GPIF is also considering other non-traditional assets such as gold, farmland, and forests for diversification.

A recent interest rate hike by the Bank of Japan could increase the attractiveness of alternative investments like Bitcoin for pension funds.

The fund is initiating a five-year research project to explore the expansion of its investment targets, with information submission due by April 19, 2024.

While this exploration could impact the cryptocurrency and precious metals markets, as well as global investment strategies, there is no current commitment from GPIF to invest in Bitcoin or other cryptocurrencies.