Raiz, a 4-year-old investment app in Australia with 215,000 monthly active users, is launching a portfolio with 5% Bitcoin allocation, according to a company blog post.
The company, which operates Australia’s leading micro-investing app, said the new portfolio took 18 months to develop and has been specifically designed to “meet growing customer appetite for exposure to the alternative asset class of cryptocurrency”.
CEO, George Lucas | Source: Raiz Invest
Raiz CEO George Lucas says: “Although this latest portfolio offering from Raiz is very high risk, feedback from many customers has clearly shown that they have an appetite for an investment strategy that has an exposure to cryptocurrencies, and the Sapphire portfolio has been designed with this in mind.
“The investment objective of the Sapphire portfolio is to provide exposure to Bitcoin in a managed, risk-adjusted way. The minimum suggested investment timeframe is more than five years.
“Many of our investors are Millennials, who have time on their side when adopting an investment choice such as the Sapphire portfolio for the long term.
“A December 2019 report by the US stockbroker Charles Schwab revealed that while stalwart companies ranked among the top investment picks for Baby Boomers and Generation Z, Millennials were more inclined to put money into crypto assets.”
Raiz will trade and store Bitcoin with New York Trust company Gemini, a cryptocurrency exchange and custodian regulated by the New York State Department of Financial Services. According to Raiz, it is considered one of the safest cryptocurrency exchanges and custodians in the world.
Jeanine Hightower-Sellitto, Gemini Managing Director of Operations, says: “Raiz is advancing micro-investments via its new portfolio that provides customers an opportunity to invest in Bitcoin in a thoughtful, regulated manner. We are excited Raiz has selected Gemini as the trusted cryptocurrency exchange and custodian to support this portfolio launch and to help further the adoption of this asset class in the Australian market.”
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