Desné Masie’s most recent column refers (“Crypto is not going away, despite bitcoin’s recent crash”, December 2).
Bitcoin is not an asset class. It is a speculative bubble with no value, kept afloat by the myth of free money and owners who have been persuaded to “hold on for dear life” to protect the promoters.
Now that there is not enough new money coming in to support it, the hold plan is cracking, “fear of missing out” is absent and the crypto “whales” have unloaded into the last price surge. Watch this space.
Sydney Kaye
Via Business Day online
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