That's a good deal right there, even if it's a small amount compared to all the giants are putting up, it means that there are nations who are looking at bitcoin as a good thing. New Zealand is doing this, Miami mayor was considering it, we are talking about not just companies, even nations and at least parts of nations looking into it. This is a good thing for the future of bitcoin because it takes us from the dark and puts us in the light with these.
Bitcoin is getting more and more credible with these deals and I can't wait to see how they will handle it. It's of course not easy to get every nation on board with these kinds of things and expecting them to all do this, but even if few nations do this, that will be example for all the other ones to do it. It's much better than hearing some other nations considering a ban on crypto like Nigeria was considering.
Topic: The New Zealand Pension Fund announced a $ 17.5 million bitcoin (BTC) investment - page 2. (Read 228 times)
March 29, 2021, 11:59:36 AM
March 29, 2021, 09:30:17 AM
First, it should be emphasized that this is not a large investment (if we look from the perspective of large investors), but a test driven probably by speculation that pension funds around the world allocate part of their assets to Bitcoin and some other cryptocurrencies. Such funds are looking for opportunities for long-term and stable returns, and if the term digital gold is increasingly used when BTC is mentioned, we should not be surprised at all that such things happen.
It is speculated that a significant portion of the investment that goes through Grayscale is actually partly from pension funds, and the money they keep under their control is significant. Still, it would be interesting to know what those who actually pay into pension funds think about such investments, because although none of them will complain about higher pensions, what if Bitcoin follows its usual pattern and enters crypto winter again after a while?
It is speculated that a significant portion of the investment that goes through Grayscale is actually partly from pension funds, and the money they keep under their control is significant. Still, it would be interesting to know what those who actually pay into pension funds think about such investments, because although none of them will complain about higher pensions, what if Bitcoin follows its usual pattern and enters crypto winter again after a while?
Grayscale Investments LLC’s new chief executive officer says the world’s largest manager of digital assets expects increased interest from institutional investors such as pension funds and endowments to continue to fuel its rapid growth.
March 29, 2021, 05:04:28 AM
We are seeing many investors and funds using or describing the Bitcoin as a store of value against Fiat's excessive inflation.
The opportunity will be good for those who continue, as extreme volatility will be encouraging, whether the price of the cryptocurrency rises or falls
read it https://www.1olay.com/2021/03/the-new-zealand-pension-fund-announced.html?m=1
I went to the link and it does not mention that the pension fund announced rather it's a whole different story. Pension fund made it's investment later,after the manager who Invested at 10k got immense profit. Quote
While several investors from KiwiSaver are unhappy with the decision, Grigor believes Bitcoin has become a commodity similar to gold and has many similar features, such as working as a store of value against Fiat hyperinflation. The official told New Zealand news agency stuff:
“If you're happy to invest in gold, you don't see a discount for Bitcoin.”
“If you're happy to invest in gold, you don't see a discount for Bitcoin.”
The opportunity will be good for those who continue, as extreme volatility will be encouraging, whether the price of the cryptocurrency rises or falls
read it https://www.1olay.com/2021/03/the-new-zealand-pension-fund-announced.html?m=1
Quote
It has emerged that a New Zealand fund manager invested $ 17.5 million worth of Bitcoin in October 2020, when BTC was around $ 10,000. According to James Grigor, the company's Chief Investment Officer, KiwiSaver Growth Strategy recently invested 5% of its money in Bitcoin.
So it was rather the manager who invested millions and that too when the price was around 10,000$, which means that he did make a lot of profit. Now the company did invest 5% in Bitcoins but they are ofcourse receiving backlash from traditional Investors.
Some more insights, into the company:
Quote
KiwiSaver is a pension scheme from New Zealand Wealth Funds Management. The fund deals mostly in traditional assets, bonds and equities, and has $ 350 million worth of assets under its management.
The fund had to change its documents in October to be able to invest in Bitcoin while trading at $ 10,000. Considering that BTC peaked at just over $ 60,000 on March 13, KiwiSaver's investment was worth six times as much.
The fund had to change its documents in October to be able to invest in Bitcoin while trading at $ 10,000. Considering that BTC peaked at just over $ 60,000 on March 13, KiwiSaver's investment was worth six times as much.
They think the pensioners can receive not only profits but also real world usage of this particular Crypto.
March 29, 2021, 03:15:09 AM
We are seeing many investors and funds using or describing the Bitcoin as a store of value against Fiat's excessive inflation.
The opportunity will be good for those who continue, as extreme volatility will be encouraging, whether the price of the cryptocurrency rises or falls
read it https://www.1olay.com/2021/03/the-new-zealand-pension-fund-announced.html?m=1
Quote
While several investors from KiwiSaver are unhappy with the decision, Grigor believes Bitcoin has become a commodity similar to gold and has many similar features, such as working as a store of value against Fiat hyperinflation. The official told New Zealand news agency stuff:
“If you're happy to invest in gold, you don't see a discount for Bitcoin.”
“If you're happy to invest in gold, you don't see a discount for Bitcoin.”
The opportunity will be good for those who continue, as extreme volatility will be encouraging, whether the price of the cryptocurrency rises or falls
read it https://www.1olay.com/2021/03/the-new-zealand-pension-fund-announced.html?m=1
Jump to: