Simon’s weekly wrap: A big week for bitcoin and Ethereum

It was a great week for bitcoin because it received again above $40 000. A month again we spoke with Petri Redelinghuys from Herenya Capital Advisors when the cryptocurrency was at $32 000 and he advisable a purchase, so we requested him what to do now after a fast 20% acquire.

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Staying with crypto I spoke with Revix founder Sean Sanders concerning the modifications to Ethereum that began rolling out on Thursday. He commented that it’s going to make transaction charges extra predictable but additionally talked about one other main replace coming in 2022. This may change the method from mining to proof of stake and will make Ethereum a a lot greener crypto consequently.

The MTN replace was filled with transferring elements and non-cash gadgets that negatively impacted the Heps. However they’ve managed to extract some R5 billion out of Nigeria to this point this yr and the courtroom case stemming from their Afghanistan enterprise has been dismissed. I spoke with Gary Booysen from Rand Swiss on whether or not he nonetheless likes the inventory and his choice between MTN and Vodacom.

Nike has been an exceptional funding as the corporate has mastered the omni-channel strategy but additionally built-in the model into the minds of socially-conscious youth. I spoke with Keith McLachlan from Integral Asset Administration about his different offshore funding within the clothes area: Levi Strauss. He makes a compelling case that not solely are the valuations means higher on Levi Strauss, however they may change into the subsequent Nike because the world strikes to extra informal put on.

Additionally this week: Port blockages weigh on Sappi, Anchor’s Martin Smith on the Woolies and Glencore updates and JSE outcomes. Steve Binnie, Sappi CEO, unpacked outcomes as July’s riots price it $16 million in misplaced revenue.

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