Australian Superannuation Fund to Invest in Crypto Currency

A word being flouted a lot lately is Inflation because what we are starting to see is increases in interest rates and devaluation of fiat currencies. A number of things are contributing to the current economic system and the Pandemic is one of them. It was anticipated that once COVID settled things would get back to normal and the economy would pick up again.

One of the nations that back in July was relying on a steep economic recovery with vaccine and travel passports has unfortunately come to realise that it isn't going quite to plan. Unfortunately for France they're people have been protesting and causing disruption so the chance of the kind of economic recovery they thought they were going to get is not coming to light.

So chances are recovery across the globe will likely go down this avenue also which is what is leading Australian Superannuation companies to invest in Crypto source.

What is Superannuation (Super)

Similar to America's 401k Australia's Super is a payment that employees have paid to them by their employer if they earn $450 in a month at the % set out in the Super Guarantee. The current Super Guarantee rate in Australia is set at 10% and will climb .5% each year until it reaches 12% with the money invested into a range of different things and managed by a super fund source

Inflation causes super funds to seek alternative investment opportunities

IT appears the greatest generations to be impacted by the looming financial crisis are Millennials and Gen Z and as a result Rest Super is investigating the use of Digital assets to beat inflation. Announcing to its 1.8 Million members that crypto currency is a good investment.

Although the company isn't investing any time soon as it is still in the research phase of investment it has got it's eyes set on utilising digital assets as a means to store wealth for younger members source.

Despite that the chairman of the Australian Securities and Investments told Monday's financial summit that he would not be advocating for digital assets warning people they will be on their own as it is an unregulated space source.

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