Another company has joined the Bitcoin (BTC) caravan

Another company has joined the Bitcoin (BTC) caravan


New Zealand-based investment fund KiwiSaver Growth fund has reportedly devoted about 5 per cent of its total investment to Bitcoin (BTC). James Grigor, Chief Investment Officer at NZ Funds, said Bitcoin would be involved in more KiwiSaver programs over the next five years.

According to a report by The New Zealand news agency Stuff, the investment company first bought the leading cryptocurrency in October 2020 when it was trading around $ 10k.

Bitcoin managed to hit an all-time high of $ 61k earlier this month. As of now, the digital currency is trading around $ 53,890, meaning the KiwiSaver fund is already recording significant gains on BTC assets.

Grigor said: "if you're happy to invest in gold and think Bitcoin is a risky and volatile asset, you're right. But a little more time is needed to reduce the volatility in Bitcoin. So I see an investment now as a great opportunity. Our KiwiSaver is mostly made up of traditional asset classes, your bonds and shares, and always tries to give people the best retirement they can get.”

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