A South African asset manager of $ 20 billion has warned their investors to invest too much in their Bitcoin Funds in exchange (ETF) because of its price volatility.
In an interview on Monday, Magda Wierzycka, CEO of Sygnia, told Bloomberg TV that the company intervenes to ensure that customers do not change their portfolio in Son ETF, Sygnia Life Bitcoin Plus, which is compatible with Blackrock’s Ishares Bitcoin Trust.
However, she recognized later that Bitcoin could become a long -term part.
Wierzycka said Sygnia’s main concern, the second largest multi-management in South Africa, is the volatility of Bitcoin prices.
“The underlying asset is very volatile. You must be very sure of the messaging surrounding it and you must be sure not to make promises that you cannot meet.”
In its information sheet, the company also advises to keep investments in the Bitcoin vehicle at no more than 5% of discretionary assets or retirement annuities.
Bitcoin derived between $ 111,644 and $ 114,548 per room in the last 24 hours, while its seven days fork moved between $ 111,933 and $ 117,851, according to Coingecko.
Sygnia seeks to offer more FNB Crypto
The life of Sygnia Bitcoin Plus was launched in June. It does not allow users to keep Bitcoin directly.
Wierzycka said the FNB had seen “very, very important” entries and a lot of interest, but it did not disclose the total.
Sygnia’s messaging is involved while the company plans to launch more FNB Crypto on the Johannesburg Stock Exchange in the future after a previous attempt due to regulatory constraints, according to Wierzyckka.
Products negotiated in exchange for crypto recorded $ 1.9 billion in entries last week, bitcoin and ether (ETH) paved the way with entries of $ 977 million and $ 772 million.
Bitcoin is still a long -term game
Wierzycka said that his business is trying to persuade customers to limit exhibition to Bitcoin ETF, she has changed her point of view on the token, and now considers it as a “long -term game”, rather than a speculative asset.
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However, she said it was too expensive at the current levels. Bitcoin Hands exchange for more than $ 112,000 per room after a recent drop in the market.
Other leaders operating in the cryptography ecosystem have planned a more optimistic price goal.
The co-founder of Bitmex, Arthur Hayes, assumed that he could reach $ 250,000 per token by the end of the year, while the founder of the strategy Michael Saylor recently doubled on his prediction of $ 21 million by Bitcoin by 2042.
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