Andrew Lill believes that savings in bitcoin can grow a lot over time. For this reason, he recommends saving a part of the savings in bitcoin for retirement.
Andrew Lill, the chief investment officer at Rest Super, a retirement fund, suggested that workers should keep some of their savings in bitcoin (BTC). This information got expressed in the annual meeting of members held by the company on November 23.
The analyst stated that investing in bitcoin is one of the strategies workers have to save for retirement, like businessman Elon Musk, the third richest person worldwide, who argues that not all savings should be kept in cryptocurrency. They firmly recommend allocating a part and also investing in other assets.
This situation takes place because the value of bitcoin is very volatile, explains Andrew Lill. It implies that the money invested could decrease if the cryptocurrency price falls or could multiply if it rises. It might be a risky investment with a high-profit opportunity if it goes up.
Andrew Lill’s Strategy is to Invest in bitcoin to Beat Inflation
Rest Super, which has 1.8 million members in its retirement fund in Australia, announced that it would start trading cryptocurrencies. These financial assets allow various advantages, one of these advantages got recently launched in its neighboring country New Zealand.
The legitimization of bitcoin (BTC) as a hedge asset is increasingly notable in the financial sector. Now, even pension funds want to try their luck with cryptocurrency, diversifying their investment offer with less traditional assets, as stated by the New Zealand firm NZ Funds Management, which declares 5% of its holdings as bitcoins.
The company acquired the bitcoins last year in mid-October, but it got recently declared before local media. The purchase got carried out through the Galaxy Digital fund when the asset only cost about $ 10,000 per unit.
Andrew Lill referred to bitcoin and expressed that the cryptocurrency could become a potentially good place to invest. This response goes to the context of Australia, where companies are embracing cryptocurrencies in their services. Recently an Australian bank began operating these assets.
Interestingly, the inflation that worries Australia is low. It has only been 0.9 to 3% in 2021, which does not compare to Latin American countries such as Venezuela, which has 574%, or Argentina, which has 41%.
This year, Venezuela registered inflation of at least 574%, while Argentina already surpasses 41%, thus being the two countries with the highest index in the region. According to Macro Data, the rest of the Latin American nations are well below these figures. Brazil owns 8.5%, Uruguay 7.5%, and Paraguay 6.3%.
Thus, Venezuela, Argentina, Brazil, Uruguay, and Paraguay are the only five Latin American countries that surpass the current inflation in the United States of America. The rest of the region’s places maintain lower values, such as Chile (5.8%), Mexico (6.2%), and Colombia (4.6%).
By: Jenson Nuñez