Bitcoin Forum

Australians turn to bitcoins to boost retirement savings

http://www.smh.com.au/business/banking-and-finance/australians-turn-to-bitcoins-to-boost-retirement-savings-20140805-100hcx.html


 8)

I hope it works out for them because if large pension funds started building Bitcoin portfolios it would become a self fulfilling prophecy
Hey it works for them lets do it to.
That said don't think that will happen right away

But the questions and stories of Australian investors tapping the bitcoin market for returns have rung alarm bells among the professional investment community.
One financial adviser who declined to be named said: “You have to be a lunatic to do it.”
“What exactly are you buying? It’s hardly a story of wealth - it’s something that’s just manufactured,” he said.

But digital currency tax expert Reuben Bramanathan, a senior associate at law firm McCullough Robertson, said investors needed to be ultra cautious about dipping their toes into the bitcoin market to glean better returns as part of their super.
“People have done it - we’re hearing from accountants who have clients that have invested in bitcoins through their self-managed super funds,” Mr Bramanathan said.
“The real question is are the funds that do it compliant with the SIS [Superannuation Industry Supervision] Act and regulation.”

“If a client asked me to make an investment into bitcoin, I would certainly take a look into it, but it’s not something I’d confidently make a recommendation on - not yet, anyway.”

Thanks was an interesting enough read.

I think this will cause the market price to rise, but I'm not sure how many Australians are doing this. I think it clearly demonstrates how rigged the financial banking system is.

They will never invest the whole porfolio into BTC - They have several high risk and low risk investments options, within the portfolio.

The high risk, yield huge short term results.  ;D They obviously just playing the market with BTC and pushing the returns.

They might have seen, something, we have missed, and plan to invest long term, but I think, they evaluated the trend over the whole period, and saw a steady increase in it's value. {And they buying low and selling high, in small chunks}

Interresting article though, and a indication that some people is seeing it's store value. {I always advice people to look at BTC over a 5 year period, for investment purpose.}

even 0,5 - 1% of US / EU fonds would be huge.

i guess 2015/2016 could be the year for that.

With how young bitcoin is, I think people looking to invest in bitcoin should see a nice return even within a 2 year timeframe. With the current adoption rate, 5 years from now I can only imagine how huge bitcoin will be. 1-2 years ago people may have said "bitcoin will be huge or nothing at all in 2 years", but we have come a LONG way since then.