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27 September 2020

Leading Australian Regulated Micro-Investing App Adds Bitcoin Option for Investors | Bitcoin News

Leading Australian Regulated Micro-Investing App Adds Bitcoin Option for Investors | Bitcoin News


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Popular demand for cryptocurrency has prompted Australia’s leading micro-investing platform Raiz (formerly Acorns) to add a bitcoin investment option.

Individual investors can round up their spare change and regularly invest in a bitcoin investment portfolio.

Australia’s leading micro-investing platform Raiz announced on Tuesday that it has launched a portfolio with a bitcoin allocation.

In addition to the Sapphire portfolio, Raiz offers nine other exchange-traded funds (ETFs) with different asset allocations and risk profiles, ranging from conservative to aggressive.

These round-up contributions are then transferred into their Raiz investment accounts manually or automatically for investment.

“With a target 5% asset allocation, the Sapphire portfolio provides investors a chance to reap the potential of bitcoin while limiting their exposure in a risk-adjusted way.” Nonetheless, due to the risks associated with cryptocurrency, “The minimum suggested investment timeframe [for the Sapphire portfolio] is more than five years,” the company recommends.

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