Retirement Fund Investors Gained 60% Returns from Bitcoin Bidding

KiwiSaver is a New Zealand-based retirement plan that has become the center of attention in many crypto circles. Apparently, the timely decision of one investor from this program helped it gain significant momentum and gains this year. James Grigor is the appointed Chief Investment Officer on this retirement fund. Last year, Grigor went against the majority of his advisors and fund managers and invested 5% of capital into the flagship cryptocurrency. 

The fund usually relies on traditional asset classes like bonds, shares, and other similar commodities to provide the retired patrons and benefactors the best possible results. When Grigor decided to put the stakes of the fund into digital assets, he was faced with skepticism and opposition by many investors. Grigor told a local NZ media outlet that he decided to go with the BTC due to its transition into a store of value.

Fund Manager Exchanging Trading Route from Traditional Financing

The total assets under management of KiwiSaver were $350 million at the time of investment in BTC back in October 2020. At the time, BTC was trading for a value of $10,000 USD. Grigor put 5% of the fund amounting to around $17.5 million into the digital asset. The transaction was made anonymously for various reasons. However, now the fund manager has disclosed their balance sheet after gaining massive gains from the trade. 

At the moment, BTC has peaked at the $61K mark. It is soon expected to enter into a new array of bullish waves that would drive its price further up. Grigor is hopeful that more features of the retirement fund take up BTC and expand the investment schemes. As per Gregor, the fund would keep looking for better and bigger asset class commodities to ensure maximum profits for its investors. 

Institutional Stakes Betting on a Massive Bull Wave for Bitcoin

It is one thing for stakeholders like Goldman Sachs and Morgan Stanley to endorse and campaign in favor of the BTC. It is another thing to have the most sought-after financial experts giving their consent for the investment potential of the flagship currency. The independent news outlet specialist Mike McGlone has made interesting predictions advocating the case of BTC. According to his findings, Bitcoin can reach the $400,000 mark if the price behavior stays intact till April.

Other Bitcoin investors and enthusiasts like JP Morgan have been expecting Bitcoin to eventually breach the $146K mark. However, the new data-backed findings of Bloomberg analysts have left all others behind. Like many investors, Gregor also decided to rule in favor of BTC due to its hedge potential against hyperinflation. With the US government planning to print $3 trillion to control COVID destruction and filing of BTC ETFs, a bull explosion is highly likely to occur.

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