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The price of Bitcoin has fallen significantly after a volatile year. CFOTO / NurPhoto via AFP

Falls in Bitcoin’s value are typical of the cryptocurrency’s high levels of volatility, experts say, but having a proponent in the White House is likely to put a floor under its price.

The price of Bitcoin has fallen significantly after a volatile year.

In mid-October it hit a record of more than NZ$214,000 but it has dropped sharply since then, back to levels last seen in April. Prices are now about 7 percent lower year-on-year and down 20 percent in a month.

“It’s been a pretty bouncy road this year for Bitcoin, post Trump coming in,” Rupert Carlyon, founder of Koura KiwiSaver said. Koura offers a crypto fund.

“Twelve months ago, Trump came in, it all got quite frothy and then it kept on building.

“This time, with all the nervousness in the last couple of weeks around, is the US Fed actually going to continue with the cutting cycle, is AI massively overblown, is the tech sector overblown? … When the stock market has a sneeze Bitcoin catches pneumonia and that’s a bit what we’ve seen over the past couple of weeks.

“Is it existential? No. Is this very similar to what we’ve seen repeatedly over the last couple of years? Yes. Why would this time be different? There’s nothing that I can see which says this is going to be different.”

He said liquidity could be a risk to the cryptocurrency.

“The big thing with Bitcoin now is the liquidity trade. What that means is how much spare money is sloshing around.

“And I think with the combination of the US shutdown, with some concerns around the direction of where the US Fed are likely to go and how easy they’re going to make money through conditions, probably the big risk factor is does liquidity dry up? But that goes counter to absolutely everything that Donald Trump wants to do. And he’s going to bully his way, I think, to get the opposite impact. So that’s why I remain confident.”

Trump has been a supporter of cryptocurrencies since he took office again.

“From a markets perspective, I remain confident that Donald Trump will do everything in his power to boost global, to boost financial markets, whether that be the stock market, whether that be Bitcoin. He’s got a real desire and he sees that the financial markets are a true kind of judgement on his presidency. And that gives me confidence that the White House will continue to step in as and when necessary.”

Experts say having a Bitcoin proponent in the White House is likely to put a floor under its price. AFP / Jim Watson

Muhammad Cheema, a senior lecturer in finance at Otago University, said Bitcoin was originally promoted as a safe haven asset but had never behaved like one.

“In fact, Bitcoin has proven to be even riskier than the stock market. For instance, in one of my papers … we find that ‘Bitcoin moves in tandem with stock market losses and does not serve as a safe haven during Covid’. During the early days of the Covid-19 pandemic, Bitcoin lost almost 46 percent of its value on a single day – March 12, 2020, while the S&P 500 fell by about 10 percent on that day. This clearly shows that Bitcoin is an extremely risky and speculative asset.

“Like most speculative assets, Bitcoin’s price is driven primarily by investor sentiment. Traditional assets such as equities have fundamental value because they represent ownership in firms that generate income. Bitcoin, by contrast, has no underlying cash flow; its value depends almost entirely on market perception. Many investors implicitly rely on the greater fool theory – the belief that an asset can be sold at a higher price to someone else. Investor sentiment is currently weak due to economic uncertainty, geopolitical risks, trade tensions, and broader market volatility.”

Alex Sims, a professor in the University of Auckland law school, said Bitcoin’s price was still up significantly over a longer period.

“The current price is actually just under what it was a year ago. But in the past 12 months it fell, then rose and now has fallen again. However, Bitcoin is significantly higher than it was two years ago. These price movements are typical of Bitcoin.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

December 2, 2025

Adjustment to single pension rate may be prompting women to borrow against homes

Source: Radio New Zealand

Single retired women turning to reverse mortgages

Single women are turning to reverse mortgages as a way to get more cash flow in retirement. UnSplash/ Cade Martin

Single women are turning to reverse mortgages as a way to get more cash flow in retirement – and some commentators say it may sometimes be because the adjustment to a “single” pension rate is too tough.

Professor Graham Squires from Lincoln University has conducted research on reverse mortgages in New Zealand.

“This research has not been conducted in New Zealand before, and it is timely given the trajectory of our ageing population and the financial pressures retirees face,” he said.

He said while reverse mortgages were relatively niche, only offered by Heartland Bank and Southland Building Society, they could become more common.

“Reverse mortgages can be useful, but they come with sensitivities around debt and intergenerational wealth,” he said. “If someone remortgages their house later in life, this can affect the level of debt a person holds, potentially passing it on to their children. Our research aimed to provide an objective understanding of how these loans are actually used.”

He said the average amount borrowed was just under $50,000 and 95 percent were voluntarily repaid before the borrower died.

The typical applicant was a 72-year-old single woman.

He said New Zealanders appeared more cautious than Australians, who often borrowd up to the maximum permitted amount.

“Here in New Zealand, the market is highly regulated to help protect financially vulnerable people – those who are struggling financially and repayments may be difficult to make. I believe this research shows that New Zealanders are sensible by not taking out large loans in their retirement years, and that appropriate safeguards are in place. What is vital in the future is the need for people to be financially literate, so they understand what financial options are available to them and what the most appropriate might be.”

Ralph Stewart, whose business Lifetime Retirement Income offers Lifetime Home, a different model that allows people to sell a stake in their house in return for ongoing income, said his clients were also commonly single females.

“They’re sort of left alone in the household by themselves with the house with maybe 20 years to run.”

People who were widowed or separated would find their pension dropped from the married rate of $828 a fortnight each to the single rate of $1076.

“The amount of discount to NZ Super is not proportionate to your expenses,” he said.

Claire Matthews, a banking expert at Massey University agreed being widowed could be a catalyst for people to look at other options.

“It would make it more challenging to remain in the family home. But that should also affect widowed men, although the gender difference would reflect the higher rate of women being widowed. However, I wonder to what extent it also reflects the known gender gap in retirement savings – if women have lower levels of savings, they may have a greater need to access the equity in their home.”

Liz Kohm, founder of Enrich Retirement, said New Zealanders had a conservative approach to reverse mortgages.

“Perhaps too conservative. Current retirees are part of a generation who believe that it is not good to take on debt, especially in retirement.

“This is despite the fact that the debt does not have to be repaid during their lifetime. It would be interesting to know the reasons why the mortgages are voluntarily repaid before death. Possible reasons include selling the home to move into a retirement village – where reverse mortgages are not permitted or family members repaying the debt to avoid erosion of their inheritance. In my view there is scope for retirees in New Zealand to be more relaxed about reverse mortgages and to take better advantage of the opportunity to improve their standard of living. There is a balance to be struck between spending money/wealth on oneself versus leaving more money/wealth behind for family members to spend.

“My observation is it is mostly people who have separated or divorced. Women usually end up worse off than men after a relationship breakdown – probably due to lower earning power and also psychological issues.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

December 2, 2025

The Rotorua family who have been on a 4-year camping trip

Source: Radio New Zealand

The Leopard family decided to take time out to go on a 15-month camping trip in 2021.

But the allure of life on the road was such they’re still going strong, travelling the country towing an off-grid caravan.

Mike and Sophie Leopard and their three children, Jade, 13, Riley, 12, and Toby, 10, were living the “good life” in Rotorua when the plan came to fruition, Mike Leopard told RNZ’s Nine to Noon.

The Leopard family’s off-grid caravan.

Mike Leopard

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“We’d do three weeks tent camping and we just really loved the travel, loved being outside, loved watching the kids use just the natural environment really as their playground and let their imaginations run wild and make up their own games and climb trees.”

So, they decided to get set up for an extended trip. They owned a light-weight caravan, not suitable for the kind of travelling they planned so they sold it, sold off other possessions, saved hard and invested in a large, off grid caravan.

“We’ve got heaps of solar panels and batteries. We’ve got power points all through this caravan, so we can run any electrical appliance.

“Everyone’s got their own bed. It’s pretty well designed and thought out to make it work for the five of us to be in here, especially when the weather’s not so great outside,” Leopard says.

They’re towing the rig with a Toyota Hilux diesel.

Their house in Rotorua is rented out and Leopard, a plasterer by trade, is picking up work on the road which along with their savings is keeping them going, he says.

The kids are all home schooling through a correspondence course.

“We thought that we would stop when our oldest had to go into high school, but she didn’t want to stop.”

On the road schooling is working out well, he says.

“We’ve got some great teachers, they know our kids now after doing online schooling with them.

“And they suggest modules and things to study that they are interested in from getting to know them.”

The Leopard family love winter camping.

Mike Leopard

While they’re loving life on the road, there are inevitable limitations, he says.

“Things like managing the power in the caravan in the winter can be pretty challenging.

“Conserving water, sometimes we can go for quite a few days without having a shower, just because you don’t have available water nearby.”

Some of the family’s most magical moments so far have been in down south in the deep of winter, he says.

“Often there’s not many people out, not many people want to do that. So often you’re all on your own and you’re just in paradise really.”

The family are currently camped up in Ōpōtiki but are eyeing up more winter adventures next year, he says.

“Trying to get ourselves into some hoarfrost and some snow.”

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

December 2, 2025

Night shift worker died in school bus crash driving home, coroner warns of fatigue

Source: Radio New Zealand

Scania Rangi Te Whare died at the scene. 123RF

A coroner has found the death of a driver who crashed into a school bus could have been prevented had he not driven while tired.

Scania Rangi Te Whare, 27, had driven from his home in Te Kuiti on 31 October 2022, leaving about 7.30pm to start his night shift at BidFood in Hamilton.

He typically worked night shifts from 9pm to 7am.

The coroner noted Te Whare would sometimes sleep in his car or at a friend’s house rather than driving home.

As he drove home about 7.30am the next day, Te Whare crossed the centre line of the road and hit a school bus travelling in the opposite direction.

Te Whare died at the scene, while the bus driver suffered minor injuries.

None of the students on board the bus were injured.

A post-mortem detailed the injuries Te Whare suffered in the crash, including a severe head injury, a ruptured aorta and lacerated lungs.

Coroner Rachael Schmidt-McCleave found his death could have been prevented had he not been driving in a likely fatigued state.

Te Whare had been putting in large amount of overtime at work in the weeks before his death.

Coroner Schmidt-McCleave made a number of recommendations after his death.

She wanted the public to take heed of advice from the NZTA around driving with fatigue.

“The NZTA advises that fatigue does not just mean falling asleep at the wheel,” she said.

“That is an extreme form of fatigue. Fatigue can also mean tiredness, weariness or exhaustion and a driver can be fatigued enough for it to impair driving long before the driver ‘nods off’ at the wheel.”

Being tired at the wheel could cause a driver to drift in and out of sleep without knowing it, called microsleep, the Coroner said.

“These naps can last between three and five seconds and are the main cause of fatigue-related crashes where the driver runs off the road.”

Coroner Schmidt-McCleave said lifestyle changes should be considered to make sure drivers get enough sleep.

“Measures such as drinking caffeine, getting out of the vehicle to stretch legs, opening the window or turning up the radio volume do not work and will refresh a driver only for a short while,” she said.

“Once fatigue has set in, no amount of willpower will keep a driver awake. The only answer is sleep and the driver should stop for a short nap or seek assistance to get home.”

NZTA said drivers should prepare properly before driving, and plan where to take a safe break, Schmidt-McCleave said.

A short nap of no more than 15 to 30 minutes could also help, she said.

“Not being tempted to keep driving when tired just because a destination is close.

“Many tiredness-related collisions occur close to home because the driver has relaxed, and the body takes this as a signal that it is ok to fall asleep.”

The Coroner noted shift workers were a recognised category of drivers more likely to suffer from driver fatigue, because they were more likely to have their sleep patterns disrupted.

NZTA’s warning signs for fatigue

Beginning to blink
Not being able to stop yawning
Having trouble keeping head up
Eyes closing for a moment or going out of focus
Having wandering, disconnected thoughts
Not remembering driving the last few kilometres
Missing a gear
Missing a road sign or exit
Slowing unintentionally
Braking too late
Drifting over the centre line or onto the other side of the road

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

December 2, 2025

New Zealand Olympic bosses weigh up major sporting merger

Source: Radio New Zealand

Track and field star Anna Grimaldi celebrates after winning bronze in the women’s 100m T47 final at the 2024 Paralympics. GETTY IMAGES

New Zealand’s Olympic and Paralympic movements could be on the brink of a historic shift, with the two organising bodies formally exploring the possibility of becoming a single organisation.

The New Zealand Olympic Committee (NZOC) and Paralympics New Zealand (PNZ) have launched a “Synergy Review” – a feasibility project that could pave the way for a merger and a new era of inclusive representation in elite sport.

The review is being led by organisational strategy specialist Susan Strawbridge, with oversight from a governance group that includes delegates from both boards and executives, and Sport NZ.

Representatives from the NZOC and PNZ declined to be interviewed about the review while it was still in the early stages, but in a joint statement said the decision to explore a merger was based on increasingly close cooperation and a growing sense that a more formal alliance could amplify their collective impact.

“NZOC and PNZ share a common purpose of supporting athletes and inspiring Aotearoa New Zealand through sport. We already work closely together, and this process is about exploring if there is an opportunity to build on that strong foundation to improve the possible impact for athletes and the sector,” the statement said.

While speculation about a merger had been bubbling within the sector, officials stressed that nothing had been decided.

“There is no pre-determined outcome,” the statement said. “It is a proactive step to explore potential opportunities to create greater impact, guided by each organisation’s kaupapa and strategic plans.”

NZOC chief executive Nicki Nicol. RNZ / Cole Eastham-Farrelly

The early phase of the project has involved consultation with staff of each of the organisations, national sporting bodies, athletes’ commissions, and major sector stakeholders. Their feedback would now be weighed by both boards over the coming weeks.

The statement said any final decision would be made jointly by both boards, and only if they agreed it was in the best interests of athletes and the sporting community.

The review would also likely consider optics. While the NZOC and PNZ operated as separate entities, many New Zealanders assumed the Olympic and Paralympic teams fell under the same organisation.

That confusion had often led to criticism of the NZOC and its partners during Paralympic campaigns, with the public mistakenly believing the Olympic body was failing to support disabled athletes. A unified structure could reduce that friction and present a clearer message about how athletes were funded and supported.

Internationally, Olympic and Paralympic structures varied widely. Most countries maintained separate bodies, but several – including Team USA, one of the largest and most influential teams in world sport – operated under a single organisational umbrella.

A number of other nations were currently weighing similar options, although NZOC and PNZ noted that national context was always the deciding factor.

It is not yet known if any merger would result in job losses. The NZOC is the larger, more well-resourced of the two organisations, with more than 30 fulltime employees and an annual turnover of nearly $23 million, according to its 2024 annual report.

PNZ’s total revenue for 2024 was $5.4 million.

Should the two organisations elect to join forces, it was likely a formal merger would not take place until after the LA 2028 Olympic cycle due to existing broadcast and commercial arrangements.

Last month Sky announced a long-term partnership with the International Olympic Committee for the broadcast rights to the Olympic Games from next year’s Winter Olympics through to Brisbane 2032.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

December 2, 2025

Scania Rangi Te Whare’s death in school bus collision could’ve been prevented, coroner finds

Source: Radio New Zealand

Scania Rangi Te Whare died at the scene. 123RF

The Coroner has found the death of a driver who crashed into school bus could have been prevented had he not driven while tired.

Scania Rangi Te Whare, 27, was driving from his home in Te Kuiti on Halloween 2022. He had left home at about 7.30pm to start his night shift at BidFood in Hamilton.

He typically worked night shifts from 9pm to 7am.

The Coroner noted Te Whare would sometimes sleep in his car or at a friend’s house rather than driving home.

As he drove home at about 7.30am the next morning, Te Whare crossed the centre line of the road and hit a school bus travelling in the opposite direction.