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South Africa's renowned asset management company: advises investors that Bitcoin allocation should not exceed 5%
According to Mars Finance, on September 23, Bloomberg reported that Magda Wierzycka, CEO of South African asset management company Sygnia (managing approximately $20 billion), stated that she would discourage investors from transferring all their assets into Bitcoin funds and suggested that the relevant allocation should not exceed 5%. She claimed that Bitcoin prices are overvalued but have shifted from a speculative asset to a long-term investment target. Sygnia launched the Bitcoin Plus fund in June, with significant inflows, and plans to issue more encryption ETFs on the Johannesburg Stock Exchange after regulatory restrictions are lifted.