Bitcoin ran to just under the $67 000 mark yesterday and at the time of writing it hovers just below the $65 000 mark, R939 695,35 at the current exchange rate.
The cryptocurrency has seen a meteoric rise in recent times and continues to be the largest and most popular cryptocurrency out there. If you were smart enough to get into Bitcoin back when it first started becoming popular and you’ve resisted the urge to pay for a Tesla car with your crypto, then you’ve definitely got a sizeable return on your investment.
Bitcoin is legal currency in the country of El Salvador and who knows in the future it might start replacing other fiat currencies and dominating the world’s markets.
In Financial Mail, Giulietta Talevi writes that Bitcoin is “up 130% year to date” and that the cryptocurrency has seen gains that “dwarf those of the general market – the JSE, up 12.6% year to date, or the US’s S&P 500, up 22%.”
Explaining its upward trajectory and what Bitcoin is to, say your folks, might be a difficult task but if you need a little help yourself understanding Bitcoin, Fin24 has published a helpful explainer compiled by AFP.
One thing is for certain, when the first Bitcoin transaction was made in 2009, we all should have gotten onto this runaway train surging to the top of the hill.
Here’s what else you need to know today:
Rob Rose | Record petrol price risks fuelling dissent – Financial Mail (Subscribe to read)
Editorial | Zweli poor show: Mkhize’s SIU rebuke proves it’s good SA is rid of him – Sunday Times Daily (Register to read)
Solly Moeng and Rinku Vij | Africa must focus on skills development, or risk a jobs bloodbath – Fin24 (Subscribe to read)
Peter Bruce | Brexiteers blamed immigrants and we blame imports – Business Day (Subscribe to read)
Bongani Mahlangu | President Ramaphosa is right that youth unemployment is a crisis, but his analysis is wrong – Daily Maverick
Mbhazima Shilowa | The ANC’s magical, mystery mayors – News24 (Subscribe to read)
Jonathan Jansen | SA must recapture universities from unethical councils – Sunday Times Daily (Register to read)
