[{"data":1,"prerenderedAt":8},["ShallowReactive",2],{"person-bio-sam-roberts":3},{"bio":4},[5,6,7],"Sam Roberts is a qualified actuary and Director of Investment Consulting at Cartwright, a UK pensions and investment advisory firm. In 2024 he led the first UK pension scheme to allocate to Bitcoin, and he advocates for Bitcoin as an institutional hedge against systemic financial risk.","The allocation was small and deliberately so: about three per cent of a scheme of roughly fifty million pounds, made after months of training and due diligence with the trustee board rather than as a quick reallocation. The case he put to them was not that Bitcoin would outperform, but that a fund which has to be solvent in thirty years carries risks a position of that size can hedge, and that leaving the asset out is itself a decision with consequences.","It drew attention across the British pensions industry, where Bitcoin had until then been treated as outside the range of instruments a fiduciary could responsibly consider, and he has defended the reasoning since on industry panels and against sceptical colleagues. His argument is structural rather than speculative: the sterling-denominated assumptions behind a thirty-year promise are worth insuring, and the cost of that insurance is small.",1788062493604]