- Chief Investment Officer of NZ Funds Management’s KiwiSaver compares Bitcoin to gold and confirms that the fund has already invested in Bitcoin.
After yesterday’s uproar that Sovereign Wealth Funds are turning to NYDIG for interest in investing in Bitcoin, today we have another big news this time about the New Zealand Wealth Fund’s investment in BTC.
The investment was reported by the New Zealand daily Stuff, which published statements from chief investment officer of NZ Funds Management’s KiwiSaver growth fund James Grigor. The investment was to be made after the KiwiSaver fund changed its offering documents last October to allow investment in cryptocurrencies.
James Grigor first said that NZ Funds Management’s KiwiSaver growth fund expects to add Bitcoin also to other KiwiSaver schemes within 5 years. He then expressed his personal feelings when he likened Bitcoin to gold.
If you are happy to invest in gold, you can’t really discount bitcoinJames Grigor
Regarding the specific amount that NZ Fund’s KiwiSaver Growth Strategy fund invested in Bitcoin, J. Grigor said that the fund, which had investments of just over $ 350 million at the end of December, now has about 5 percent of its money in Bitcoin.
About NZ Funds
NZ Funds is a privately owned wealth management firm founded in 1988, which specializes in providing integrated advice and portfolio management services for New Zealanders.