“Cryptocurrencies are not an investment. That being said, the technology behind them will change the world.” – Dawie Roodt, Chief Economist at the Efficient Group.
Dawie Roodt made the following revelations when speaking to MyBroadband about the investment landscape in South Africa:
- The likes of Bitcoin and Ethereum were not investments, and South Africans should not invest substantial amounts in them.
- US dollar-based equities are also a solid option, and with the rand strengthening against the dollar, now is a good opportunity to buy equities in the US.
- Local investors who are keen to place money into the JSE as the rand strengthens must remember that a large portion of the JSE’s earnings comes from foreign currencies.
This article was published by MyBroadband, a South African technology news website.