MARIUS REITZ: Climb into the crypt with bitcoin, fast
South Africa should welcome the cryptocurrency as a strategic reserve asset and reap the advantages before it loses first-mover status to a horde of others
16 January 2025 - 05:00
As South Africa and other emerging markets grapple with currency volatility and economic challenges, a seismic shift in monetary policy is happening globally. Once dismissed as a speculative asset, bitcoin is rapidly gaining recognition worldwide as a legitimate strategic reserve asset (SRA).
The rand’s 42% depreciation against the dollar over the past five years underlines the urgent need for South Africa to diversify its foreign exchange reserves. Gold remains a cornerstone of our reserve strategy, but the digital age demands updated solutions...
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