Now workers save for retirement in bitcoin

Key facts:
  • Savings in bitcoin can grow a lot over time, believes Andrew Lill.

  • Therefore, he recommends saving a part of the savings in bitcoin for retirement.

Andrew Lill, the chief investment officer at Rest Super, a retirement fund, recommends that workers keep some of their savings in bitcoin (BTC). This was expressed at 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, who is the third richest person in the world, he argues that not all savings should be kept in cryptocurrency. Although they do recommend allocating a part and also investing in other assets.

This is because the value of bitcoin is very volatile, explains Andrew Lill. It implies that the money invested can decrease if the price of the cryptocurrency falls, as well as it can multiply if it rises. It is a risky investment, with a high profit opportunity if it is on the rise.

Andrew Lill recommends saving in bitcoin to beat inflation. Source: Twitter.

Investing in bitcoin to beat inflation is Andrew Lill’s strategy

Rest Super, which has 1.8 million members in its retirement fund in Australia, announced that it will start trading cryptocurrencies. In the name of the advantages these financial assets allow, one was also recently launched in its neighboring country New Zealand.

Andrew Lill says that “in an age of inflation it could be a potentially good place to invest,” referring to bitcoin. This responds to the widespread context of Australia, where companies are embracing cryptocurrencies in their services. Recently CriptoNoticias reported that an Australian bank began operating these assets.

Interestingly, the inflation that worries Australia is very low. It has only been 0.9 to 3% in 2021, which is not even compared to Latin American countries such as Venezuela, which has 574% or Argentina with 41%. To this is added that the value of the Australian dollar is stable, it almost does not devalue. However, still and everything, Andrew Lill recommends investing in bitcoin to beat the economy.

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