5% of Retirement Funds Invested in Bitcoin by New Zealand wealth Management Firm

5% of Retirement Funds Invested in Bitcoin

About 5%  has been invested by Nz Funds wealth management firm in  its growth KiwiSaver Scheme fund in Bitcoin. NZ funds wealth management firm is a New zealand fund management firm.

Investors looking for fairly high growth over the long term, do utilize the growth funds scheme. Growth assets like listed infrastructure, equities and listed property are the funds mainly invested in by the growth asset.

As at December, 2020, the Growth KiwiSaver Scheme fund has about $244 million in assets, which they started investing in Bitcoin as at last year October.

Based on the volatility of  Bitcoin and also premised on the fact that it does not have several use cases, the Fund managers from other investment schemes were not happy with the firm.

‘If you are happy to invest in Gold, you cannot really discount Bitcoin’ according to James. Grigor further stated that against fiat inflation. Bitcoin as a commodity and a good store of value.

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