JAMIE CARR: Still more juice to be made from bitcoin
There may still be a bit more juice to be made from bitcoin while the enthusiasm lasts, while the normally festive streets of Stellenbosch may well be a spot to avoid in the aftermath of the Steinhoff debacle
Waiting for the bitcoin ride to end There’s a certain irony to the fact that the best-performing investment of the year has been something that looks to the disinterested observer like it’s so flimsy a breeze could dispatch it, while the biggest catastrophe has been something that should have been as rock-solid as you could imagine. Flogging furniture in Europe, mattresses in the US and low-cost products into Africa sounds like the sort of enterprise into which you could happily stick your pension. But clearly this is not the case with Steinhoff. The normally festive streets of Stellenbosch may well be a spot to avoid in the aftermath of the debacle, with a town that has recently been known as an investor’s darling suddenly coming to terms with the reality that there has been value destruction of truly monumental proportions.
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