BlockBeats News, September 23rd. According to Bloomberg, Magda Wierzycka, CEO of South African asset management company Sygnia (with approximately $20 billion in assets under management), stated that she would discourage investors from moving all their assets into a Bitcoin fund and recommended that their exposure should not exceed 5%.
She mentioned that the price of Bitcoin is overvalued but has transitioned from a speculative asset to a long-term investment target. Sygnia launched the Bitcoin Plus fund in June, which experienced significant inflows, and they plan to issue more cryptocurrency ETFs on the Johannesburg Stock Exchange once regulatory restrictions are lifted.
