Rocket from the crypto: Tesla’s bitcoin blast off
Cryptocurrency’s best-known brand is hugely volatile but is gathering support as a safe-haven alternative to gold, writes The Finance Ghost
We find ourselves in a parallel universe, where stimulus ("stimmy") and currency debasement is driving asset prices while much of the underlying economic data continues to keep finance ministers up at night.With the largest derivatives market in the world, there is a locust swarm of inexperienced traders in the US who are using risky, highly leveraged instruments to take positions in stocks. If you’ve seen any of the videos doing the rounds on social network TikTok, you’ll realise how clueless many of these investors are.Within their ranks, though, there are experienced and talented traders making eye-watering amounts of money. Recent events around the Reddit social media platform, the GameStop short squeeze and the incredible profits made by "Roaring Kitty" (real name Keith Gill), among others, will define an era in the market and create legal precedent.Of course, increased participation by retail investors in the market is great. That’s what we all want to see, as people take an i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.