Bitcoin Catches Interest of New Zealand’s Retirement Fund
CoinEdition
Published Mar 27, 2021 04:00AM ET
Updated Mar 27, 2021 04:30AM ET
Bitcoin Catches Interest of New Zealand’s Retirement Fund
- KiwiSaver invested 5% of its $350 million in Bitcoin
- Its CIO is positive that bitcoin will appear in a number of NZ Funds Management’s products
- KiwiSaver’s competitors doubt the decision to add the first cryptocurrency to clients’ pension plans
New Zealand’s KiwiSaver, a voluntary savings scheme for workers, has invested 5% of its $350 million in Bitcoin, according to Stuff.
In October 2020, the company amended the investment declarations of the funds to invest in digital assets. Chief investment strategist of New Zealand Funds, James Grigor does not exclude the possibility that bitcoin will appear in a more significant number of products offered by NZ Funds Management.
James Grigor further added, he said:
‘If you are happy to invest in gold, you can’t really discount bitcoin… Our KiwiSaver is majority built up through...This article was first published on coinquora.com
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Written By: CoinEdition
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