CoinGapeNews

New Zealand Wealth Management Fund Invests 5% of its Assets in Bitcoin

KiwiSaver growth fund, a retirement growth fund with investments worth $350 million has invested 5% of its total assets in Bitcoin. The chief investment officer James Grigor also promised more KiwiSaver schemes with bitcoin exposure in the upcoming 5 years. He said,
“Our KiwiSaver is majority built up through traditional assets classes, your bonds and shares, and they will always be the asset classes that compound over time to give people the best retirement they can get.
he added,
But there’s going to be times when it’s not always going to be plain sailing. You may still have a positive view of those asset classes, but other opportunities present themselves,”

New Zealand Wealth Management, a retirement growth fund, now has 5% of its assets in #Bitcoin after their initial hodlings increased by 500%.
— Documenting Bitcoin (@DocumentingBTC) March 25, 2021

Bitcoin’s rising value along with popularity has made it the go-to choice for investors and now even large wealth fund managers. Only yesterday Coingape reported that a Singapore-based $306 billion wealth manager has been buying Bitcoin from miners since 2018. The rising interest of high-value sovereign wealth management funds most of them associated with the government is a clear sign of growing Bitcoin adoption beyond the limited crypto market.
The  Chief Investment Officer of KiwiSaver said that they see Bitcoin as a commodity with properties like gold.

“If you are happy to invest in gold, you can’t really discount bitcoin,”

However, many other rival wealth managers believe the decision would not be good for investors as …
Story continues on CoinGape

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMicrosoftNewsxbtusd

Microsoft’s decentralized identifiers positioned for a bullish explosion on the Bitcoin mainnet

The four-year-old project was intended to advance decentralized identities (DIDs) in the industry of ID technology. Bringing its ION decentralized identifiers to its user base is giving users the option of ditching traditional usernames and email addresses and making the…
AltcoinsAnalysisBitcoin CashHideCryptopanicNewsNews 1SocialTrading View

Bitcoin Cash, Bitcoin SV, Binance Coin Price Analysis: 26 March

The altcoin market has had to endure a bit of bearish pressure in the past few days. Coins like Bitcoin Cash, Bitcoin SV, and Binance Coin witnessed the bears dominate the market at the start of the wThe post Bitcoin…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsRay Dalioxbtusd

The US Government Could Ban Bitcoin, Billionaire Investor Ray Dalio Asserts

Billionaire Ray Dalio has spoken on the possibility of the government folding Bitcoin up in the future. This has been a topic of debate among Bitcoin lovers who are weighing the possibility of the government outlawing Bitcoin. This may either…