Various media sources have reported that KiwiSaver Growth Strategy, a $350 million retirement fund managed by New Zealand Wealth Funds Management, has reportedly allocated 5% of total assets to Bitcoin (BTC).

Bitcoin’s simlarity to gold was cites as the main reason by the fund’s chief investment strategist. The firm reportedly made its first purchase around the $10,000 price point.

This is yet another indicator that institutional interest in this space is only growing stronger. This is yet another major institution entering this crypto market.