Aussies lose $600M through ‘DIY’ crypto pension funds
Australian savers who bet on bitcoin through self-managed crypto pension funds have lost millions after it dipped 60% from its 2021 high.
Cryptocurrency news by Protos · Protos
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Show Notes
Thousands of Australians have likely seen their pension funds decimated after their crypto investments shed an estimated $600 million AUD ($403 million) in value.
Affected are investors who decided to set up so-called DIY pension funds.
These funds differ from traditional pension pots in that their members are also the trustees, making them responsible for managing their savings themselves.This allows investors to place their money in less traditional markets, including crypto.
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