April 21, 2021

New Zealand Pension Fund invests 5% in bitcoin

New Zealand Pension Fund invests 5% in bitcoin

New Zealand's KiwiSaver Foundation began investing in bitcoin back in October 2020.

The pension fund, which manages $ 350 million, has invested 5% of its assets in Bitcoin. According to investment director James Gregor, the firm first bought bitcoin for $ 10,000 in October.

And although bitcoin has grown 6 times since then, the fund still has not recorded a profit and continues to hold BTC.

Grigor stated:

If you are attracted to investing in gold, you are notyou can just bypass bitcoin. And while most of us invest only in traditional assets, Bitcoin is the asset class that can provide people with the most dignified retirement.

Earlier it became known that the Israeli pension fund Altshuler Shaham invested $ 100 million in the Grayscale bitcoin trust.

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According to the materials cointelegraph.com