Promoting Bitcoin bit by bit
Arrowtowner Nell Hunter has started 'The Bitcoin Basin', a movement "focused on helping local businesses, educating the public and creating a circular economy where Bitcoin can be earned and spent locally".
Bitcoin, which has been used as a currency since 2009, is the world's first and only decentralised digital currency.
Hunter is backed by local-based payment platform Lightning Pay, co-founded by local computer scientist Rob Clarkson, which allows businesses to accept Bitcoin at point of sale, with the option to either accept it or convert it into New Zealand dollars within 24 hours.
Hunter says she's also supported by local professionals including Derek Roth-Biester "and others who view Bitcoin not as a speculative gamble, but as a secure store of value and a practical, sound means of payment, especially in a time of rising inflation".
She and colleagues recently met with local MP Joseph Mooney and will soon present their vision to MPs in Wellington.
They're also exhibiting at Host-Tech — a showcase of Queenstown hospo and tourism technology — on May 22.
Hunter: "We want Bitcoiners from around the world to come here, spend here and support local businesses.
"Governments and states around the world are taking Bitcoin seriously.
"We want to make sure NZ doesn't fall behind."
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NZ Herald
4 days ago
- NZ Herald
Donald Trump wants to open up US retirement savings to crypto, should KiwiSaver follow suit?
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The FMA's executive director licensing and conduct supervision, Clare Bolingford, said: 'In New Zealand, there is no legislative restriction stopping KiwiSaver fund managers from investing in crypto. 'Indeed, some fund managers already offer KiwiSaver funds that are partially invested into crypto (such as Bitcoin),' she said in response to a Herald inquiry. 'However, fund managers must comply with disclosure rules to ensure investors understand the types of assets that the fund can invest into,' Bolingford said. 'Additionally, KiwiSaver fund managers must act with the care, diligence and skill of a prudent manager. 'KiwiSaver fund managers predominately offer funds that invest in less volatile assets, like shares and bonds, rather than crypto. 'Those fund managers that offer KiwiSaver funds with an exposure to crypto often significantly limit the exposure to crypto (for example, to 10% of assets under management). 'This is likely because crypto assets are highly volatile, have more custody risks and often necessitate more rebalancing. 'Additionally, high exposure to crypto may not always be suitable for investment funds, like KiwiSaver, that are designed for retirement.' Fund managers' view Trump's moves to try to loosen up what the US retirement savings industry can and can't do have not gone unnoticed in the local funds management industry. 'We've been following the developments in the US, and have seen the moves by the Trump administration to make it easier to invest in private markets and cryptocurrencies,' Fisher Funds chief investment officer Ashley Gardyne said. He said Fisher Funds was always on the lookout for opportunities and saw private equity as being well-suited to KiwiSaver. 'The longer-term nature of KiwiSaver also aligns well to the timeframe of private market investments,' Gardyne said. Across the Tasman, some Australian superannuation funds have 20% allocations to private markets, compared to about 2% in KiwiSaver. Fisher Funds had earmarked more than a billion dollars over the next three to five years for its wider private equity strategy, with several hundred million dollars for New Zealand businesses. Private equity 'On the other hand, we're less certain that there is a place for cryptocurrencies in mass-market retirement portfolios,' Gardyne said. 'While some investors may choose to invest in this space, we prefer to invest in assets that generate cashflows – like listed companies, fixed income securities and private equity. 'It is very difficult to determine an intrinsic value for cryptocurrencies – and it is therefore more speculative in our view." Harbour Asset Management portfolio manager Shane Solly said that for investors, diversification was key. 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'Tangible evidence of cost-outs is needed with the upcoming result to assuage such caution.' However, the data centres had been monetised at a good price, especially compared with the $200m-$220m capital Morningstar estimated Spark has pumped into building them since fiscal year 2021. 'The proceeds should go a long way toward calming investor nerves about the balance sheet,' Morningstar said. Ebos result Brokers Forsyth Barr expects Ebos Group to exceed consensus earnings expectations when it reports on Wednesday. At its first-half result, Ebos posted a lower half-year profit after losing a $2 billion contract to supply Chemist Warehouse (CW) Australia. 'While ebitda [earnings before interest, tax, depreciation and amortisation] will be down versus the prior year, it should be near or above the top end of its guidance [A$600m], reflecting solid performance excluding the CW contract loss,' it said. Adam Hall was installed as new chief executive at Ebos on July 1. 'It's too early for any shift in messaging or strategy, but we expect clear/confident communication (if provided) would reassure investors, particularly on M&A [mergers and acquisitions],' Forsyth Barr said. On a milk run? French dairy giant Lactalis is the leading bidder for Fonterra's Australian food business after being granted exclusivity to negotiate for a buyout, the Australian Financial Review reported this week. If successful, the deal will lead to a major shake-up of the country's agricultural sector, the paper said. Lactalis – the world's biggest dairy company – is on the acquisition trail. In July, the firm's US arm bought General Mills' US yoghurt business. The acquired business represents approximately US$1.2b in annual net sales. 'This acquisition advances our US growth strategy and strengthens our position as an emerging leader in the US yogurt market,' the company said then. Concrete down Stats NZ said the volume of ready-mixed concrete (RMC) produced was 891,909 cubic metres in the June quarter, down 10% compared with the year-ago quarter. In the year ended June 2025, 3.7 million cubic metres of RMC was produced, down 6.0% compared with the year ended June 2024. Forsyth Barr noted Fletcher Building (FBU) had started to release quarterly volume data, which included its Firth ready-mix concrete volumes. FBU's Firth RMC concrete volumes were down 2% on the prior year, compared to national 12-month rolling volumes which were down 6%. This suggests that Firth had managed to consolidate market share over the quarter, the broker said. Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
Techday NZ
5 days ago
- Techday NZ
Ethereum leads July surge as altcoins & stablecoins shine
The cryptocurrency market recorded a significant surge in July, with a 13.3% rise in total market capitalisation as reported by Binance Australia. This growth was attributed to improved macroeconomic conditions, increased risk appetite, and a rise in institutional demand. The period also saw regulatory developments and increased adoption of digital assets by corporate treasuries, which contributed to Bitcoin reaching several new all-time highs and boosting confidence in altcoins and stablecoins. Altcoin momentum During July, there was a notable shift in market dynamics as altcoin dominance increased by nearly 10%, now making up 39.2% of the market. In contrast, Bitcoin's market dominance fell by 5.2% to 60.6%, dropping below 60% for the first time since January. Ethereum was a leading driver of this change, with its own market share climbing over 25% to reach 11.8%. Other prominent altcoins, such as XRP and BNB, also posted considerable gains, bolstered by ecosystem developments and new partnerships. "Investors are no longer just focused on Bitcoin as a singular hedge. We're seeing them explore the broader market, driven by improved macroeconomic conditions, rising consumer confidence, and increased regulatory clarity globally. "Adoption narratives around tokenization and stablecoin infrastructure have also helped strengthen broader sentiment - particularly benefiting Ethereum and related DeFi assets, which rely heavily on stablecoin liquidity." This statement was made by James Quinn-Kumar, Director of Community Engagement for Binance Australia and New Zealand, who noted the maturation of the crypto asset class and rising mainstream adoption. Institutional demand for Ethereum Corporate adoption of Ethereum reached record levels in July, with 24 new firms adding the asset to their balance sheets. This resulted in a 127.7% increase in institutional holdings of Ethereum, now surpassing 2.7 million ETH. Concurrently, Ethereum's price gained 50% in the month, and the asset led altcoin inflows, with spot ETH ETFs registering a 19-day streak of positive net inflows. "The extraordinary corporate adoption of Ethereum in July signals a fundamental shift in how institutions view digital assets," Mr Quinn-Kumar said. "Companies are now moving beyond a 'store of value' mindset and are actively leveraging Ethereum's unique utility." Market participants increasingly favoured direct exposure to Ethereum's features - such as staking yield and a deflationary monetary model - over more passive vehicles like ETFs, which further supported its performance during the period. "Demand, liquidity, and strong price action has seen Ethereum emerge as one of the month's best performing large-cap assets. However, with Ethereum historically exhibiting higher volatility than Bitcoin, and the space still maturing, the long-term durability and scale of these corporate ETH strategies remain to be seen," Mr Quinn-Kumar said. Australian trading trends The Australian crypto community mirrored global patterns throughout July. Binance Australia data showed that, for the first time, Ethereum surpassed Bitcoin by number of traders on the platform. The five most-traded digital currencies on Binance Australia remained led by ETH, followed by BTC, XRP, Solana, and BNB. A new entrant in the top ten was HBAR, which climbed nine spots following a 55% increase in price. This shift suggests traders are branching out beyond Bitcoin to seek fresh opportunities in other blockchain ecosystems. Stablecoins and regulation In July, stablecoins were given a boost by major regulatory developments in the United States. The passing of the GENIUS Act created a federal-level framework for fully reserved, anti-money laundering compliant stablecoins, mandating that they be backed one-to-one by cash or short-term Treasury securities. The new law prompted increased institutional adoption and led to higher activity from major global banks and payments companies, including pilot projects from JPMorgan and Citi and an expansion of stablecoin support from Visa. On-chain stablecoin transfer volumes stayed near record highs, continuing to surpass those of Visa since late last year. "Stablecoins have a growing dominance as a mainstream payment infrastructure," Mr Quinn-Kumar said. "The passage of the GENIUS Act is a monumental step for the cryptocurrency industry, providing much-needed regulatory clarity that supports the continued growth of digital assets within the broader financial ecosystem. This law unlocks a new, more efficient, and more transparent financial infrastructure and a clear trajectory to mainstream adoption. "Looking ahead, the pace of capital rotation into crypto will depend on broader macroeconomic and liquidity conditions, alongside continued regulatory support. One thing is certain, the demand from both retail and institutional investors is undeniable."
Techday NZ
6 days ago
- Techday NZ
Calls grow for KiwiSaver diversification as Bitcoin yields soar
New research indicates that a lack of diversification in KiwiSaver portfolios may be limiting retirement prospects for thousands of New Zealanders, prompting renewed calls for advisers to expand their knowledge of emerging asset classes. Analysis conducted by digital investment platform Swyftx shows that investing NZD $36,500 - equivalent to NZD $10 per day - in Bitcoin over the past ten years would today have grown to approximately NZD $2.8 million, representing a 76-fold return. In comparison, the same sum invested in an average balanced KiwiSaver fund would likely now be valued at NZD $65,000 to NZD $70,000. Jason Titman, Chartered Accountant and Chief Executive Officer of Swyftx, stated that the new data highlights the need for contemporary retirement planning strategies and enhanced adviser education, especially as pension funds worldwide begin to integrate digital assets into their long-term models. "Digital assets are now a mainstream component of diversified investment portfolios internationally, yet New Zealand advisers are lagging in both adoption and education. "If you'd invested just $10 per day in Bitcoin over the past 10 years, you'd have spent $36,500 and accumulated roughly 14.5 BTC. Today, that would be worth around $2.8 million, a 76x return. That kind of performance deserves consideration, even as a small part of a retirement portfolio." Titman contrasted the Bitcoin returns to the typical balanced KiwiSaver fund, which he said had returned around 6% to 7% per annum over the past decade. This would have turned a NZD $36,500 investment into approximately NZD $65,000 to NZD $70,000 today. Titman noted that digital asset adoption among high-net-worth families has been more rapid, suggesting this group recognises the potential benefits of digital assets as part of long-term investment strategies. "It's a clear example of the opportunity cost facing retirement savers when portfolios remain too narrow. "Diversification into digital assets, even at a small allocation, could dramatically shift long-term outcomes for many Kiwis," he says. Official figures from the Financial Markets Authority show that KiwiSaver balances rose by 19.3% in the last year, taking the average member balance to NZD $33,514. Despite this, only two of the existing KiwiSaver schemes currently offer any exposure to digital assets. Titman pointed to international trends, such as reported moves in the United States to broaden permitted 401(k) retirement plan investments to include digital assets, as evidence that the retirement market is evolving. While these changes have provoked mixed reactions within traditional finance circles, Titman feels they indicate a global reassessment of retirement fund structures and the returns expected by investors. "Regardless of political stance, what we're seeing globally is recognition that younger generations want more control, choice and exposure to higher-performing asset classes. The question is whether New Zealand's system will evolve fast enough to meet that demand," he says. He emphasised that the aim is not to take excessive risks with retirement savings, but to modernise portfolio construction. "We're not talking about putting someone's retirement on the line. We're talking about disciplined allocation, say 3% to 5%, to a high-growth, emerging asset class that has already demonstrated long-term return potential. It's about optimising performance, not taking unnecessary risk," he says. According to Titman, increased investment in digital assets could also have wider economic benefits, potentially supporting local market development, job creation, and expanding the tax base. "It's a sector that is expanding, and investor engagement with it is already occurring outside of traditional channels," says Titman. Swyftx's research also examined the effect of early and consistent exposure to digital assets for long-term savers. Titman believed that such allocations can have significant cumulative effects over decades. "If a young investor allocated just 5% of their KiwiSaver contributions into Bitcoin when they enter the workforce, the compounding impact over decades, particularly with historically high long-term returns, could significantly accelerate the path to retirement for some individuals. "While not all investors would become millionaires, the data suggests that financial outcomes could improve substantially when higher-growth assets are appropriately integrated," he says. Titman identified a significant need to upskill the adviser community on emerging assets and said Swyftx has developed a digital asset education platform for financial advisers, including portfolio construction guidance and international case studies. Swyftx's user data indicates that 72% of its more than 300,000 New Zealand clients on its Easy Crypto platform are aged between 25 and 45. This demographic is consistent with the core KiwiSaver participant group, and many are already investing in digital assets outside of KiwiSaver. With KiwiSaver entering its 17th year, Titman argued that a broader discussion is needed around modernising the system for future generations. "We know that the current financial education gap in New Zealand is significant, however, when advisers are equipped with evidence-based tools and global context, they're far more confident having conversations about diversification that includes digital assets. "Adoption from retail investors is already moving rapidly. Our research shows over 700,000 Kiwis or 14% are engaging with digital assets independently, which points to a need for the sector to catch up, particularly as more of these investors expect personalised, forward-thinking retirement advice. "Better-informed advisers are better placed to help their clients navigate emerging options. The role of the adviser is not to speculate, but to build robust, evidence-based portfolios that reflect clients' long-term goals," he says.
