New Zealand’s $350 Million Retirement Fund Gets Into Bitcoin

A New Zealand retirement fund has invested five percent of its assets into Bitcoin.

Operated by wealth management firm New Zealand Funds Management, the KiwiSaver Growth Strategy had $350 million under management as of December.

KiwiSaver is a voluntary savings scheme for workers from New Zealand that allows them to contribute up to 10 percent of their paychecks. Employees typically get enrolled automatically when they start a new job.

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