The CEO of financial services company Sygnia Asset Management says it still hasn’t recovered after buying Bitcoin at the top of the last bull market.
In an interview with The Money Show, Magda Wierzycka says she bought the latest Bitcoin at $18,000, which is close to an all-time high. The billionaire Businesswoman from South Africa said her husband still hasn’t allowed her to enter the market since then.
That’s where the show’s host, Bruce Whitfield, stepped in, and he says BTC could still be a new form of digital gold. Wierzycka, however, says he takes much less risk in his portfolio these days.
“I DON’T CARE WHAT HAPPENED. I LOST A LOT OF MONEY. I DON’T TRUST ANYTHING ANYMORE. I HAVEN’t turned into INDEX FUNDS OR ANYTHING ELSE. “
The story reflects the stories of those who invested towards the end of Bitcoin’s last parabolic bull run.
Peter McCormack, a committed Bitcoin believer, recently announced a major bitcoin loss. He tells The Guardian that BTC’s climb reached $1.2 million in profits ahead of the Bubble Burst in January 2018:
“AT FIRST I INVESTED 5,000 POUNDS; IN JANUARY 2017, IT WAS ABOUT $600, SO I BOUGHT SEVEN OR EIGHT AND SPENT IT ON OTHER CRYPTOCURRENCIES. BUT FOR THE NEXT FEW WEEKS, I’VE TIED UP A LOT OF MONEY AND INVESTED A TOTAL OF 23,000 POUNDS. BY THE END OF 2017, IT REACHED ALMOST $20,000 AND MY PORTFOLIO REACHED AN APPROXIMATE $1.2 MILLION. THEN I’m OUT OF CONTROL…
I STILL BELIEVE THAT BITCOIN IS A GOOD FORCE. I RECENTLY INTERVIEWED ALEX GLADSTEIN OF THE HUMAN RIGHTS FOUNDATION EXPLAINING HOW PEOPLE LIVING IN AUTO-TERRORISM DEPARTMENTS help develop. FOR EXAMPLE, WOMEN WHO ARE NOT ALLOWED TO OPEN BANK ACCOUNTS IN AFGHANISTAN CAN STILL WORK AND RECEIVE PAYMENT AS A BUDGET. IT’S A STEP IN THE RIGHT DIRECTION. NOW MY MAIN FOCUS IS TO INVESTIGATE HOW BITCOIN CAN HELP BALANCE A WORLD WHEN IT IS CHANGING. “