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Raiz releases Sapphire portfolio with Bitcoin allocation

Raiz, Raiz Invest, AustraliaSydney-based Raiz Invest, a micro-investing app, has announced that it will offer investors exposure to the Bitcoin cryptocurrency with the launch of its 7th investment portfolio that will have a 5 per cent target allocation to this alternative asset class.

The new portfolio, called Sapphire, has taken 18 months to develop, and has been specifically designed to meet growing customer appetite for exposure to the alternative asset class of cryptocurrency. Aside from Bitcoin, the remaining 95 per cent of the portfolio will comprise US, Australian, European, and Asian large-cap stocks, as well as the Australian corporate debt and money markets, all via exchange-traded funds (ETFs).

Raiz CEO George Lucas expounded, “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 Gemini, a cryptocurrency exchange and custodian founded by the Winklevoss twins. Gemini is a New York Trust company regulated by the New York State Department of Financial Services.

Jeanine Hightower-Sellitto, Gemini Managing Director of Operations stated, “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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