20.04.2024

New Zealand Pension Fund invested 5% of its assets in bitcoin

New Zealand pension fund KiwiSaver has set aside 5% of its assets to invest in bitcoin. BTC will be featured in many KiwiSaver investment products over the next 5 years.

The NYDIG CEO said more and more government funds are willing to invest in BTC. Singapore’s Sovereign Wealth Fund Temasek buys bitcoin from miners.

KiwiSaver Growth Strategy, a New Zealand pension fund managed by Wealth Funds Management, has set aside 5% of its assets to buy bitcoins.

“If you love investing in gold, you cannot ignore Bitcoin ,” said James Grigor, investment director at Wealth Funds Management. He also added that over the next 5 years, the first cryptocurrency will be featured in many KiwiSaver investment products.

The New Zealand pension fund first bought bitcoins in October 2020, when the cryptocurrency was worth about $ 10,000. In early March, the price of BTC reached $ 61,000. Thus, the investment decision brought KiwiSaver a sixfold profit. Although the price of the cryptocurrency has subsequently declined, the pension fund still has huge profits.

Grigor also noted that KiwiSaver buys mainly traditional financial assets, but the fund could not pass by an attractive investment opportunity.

“Bitcoin is capable of giving people a comfortable old age ,” he said.

By the way, earlier we examined in detail the issue of investing in cryptocurrencies to ensure a comfortable old age.

Meanwhile, New York Digital Investment Group (NYDIG) CEO Robert Gutmann told Real Vision founder Raoul Pal that his company is increasingly being contacted by government funds to invest in bitcoin.

Pal, in turn, confirmed this information, noting that Singapore’s sovereign wealth fund Temasek, which manages $ 306 billion in assets, is investing in bitcoin. He purchases BTC directly from miners.

Gutmann also added that public companies and government funds are starting to rethink their investment policies in an effort to hedge dollar-denominated liabilities.

“Investment committees, analyzing current events and future prospects, are wondering if it is right to hold all assets in dollar-related instruments, ” he said.

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