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Foreign media: A New Zealand investment fund invested $17.5 million in Bitcoin last year, and the current rate of return is nearly 600%
[2021/3/29]
According to a New Zealand media 1OLAY report on March 28, according to people familiar with the matter, a New Zealand fund manager invested 17.5 million U.S. dollars in Bitcoin in October 2020, when the price of Bitcoin was about 10,000 U.S. dollars. James Grigor, chief investment officer of KiwiSaver Growth Strategy, stated that the company recently invested 5% of its funds in Bitcoin.

                        

According to reports, KiwiSaver is a pension plan launched by New Zealand Wealth Funds Management. The fund mainly trades traditional assets, bonds and stocks, and manages assets worth 350 million US dollars. In October last year, the fund revised its documents so that it could invest in Bitcoin at a price of $10,000. If calculated according to the recent highest price of Bitcoin, the return on investment income is close to 600%.

But even so, there are differences in attitudes towards Bitcoin within the fund. Some fund managers believe that Bitcoin is not very useful and "very unstable at this stage."

But Grigor believes that Bitcoin brings new opportunities to investors. He believes that regardless of whether the price of cryptocurrency rises or falls, the fund will move to the next potential asset class. This information prompted the fund to invest in Bitcoin in October, when the Bitcoin bull market was just beginning to emerge.


(This article is from Bitpush.News)
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