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.
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:
Publication Date: 28 March 2021
Publication Site: 1olay