Bitcoin was a waste of money - Sygnia CEO

Jamie McKane

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Bitcoin was a waste of money - Sygnia CEO

When Sygnia CEO Magda Wierzycka was asked whether she ever wasted money in her life her answer was simple – “Bitcoin! Bitcoin! Bitcoin! Bitcoin!”.

Wierzycka is the richest woman in South Africa, but she did not always have it easy in life. In fact, she had a tough childhood.
 

backstreetboy

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Aww shame. A billionaire losing a million or two. No wonder we never got the Sygnia crypto exchange that she talked about.
 

Aqua_lung

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And people trust that their investments in Sygnia are safe when the CEO makes such an obvious and easily avoidable bitcoin investment mistake based on FOMO?
 

jetlee

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umm .. bitcoin is still AT 10k USD .. if she bought for 4k .. how is that a bad investment ? what she failed to say is that she got greedy, and then got bit ... and the bitcoin she bought at 18k .. is now only worth 10k .. shame .. she lost 40% .. I bet shes lost more on other investments ...
 

saor

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And people trust that their investments in Sygnia are safe when the CEO makes such an obvious and easily avoidable bitcoin investment mistake based on FOMO?
In debt too, apparently.
(Tho obviously I don't know what crazy medical bills or otherwise she might have)
Weird interview.
She is, however, quick to point out that she lives in debt.
 

mr_norris

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When plain old mr_norris was asked whether he ever wasted money in his life his answer was simple – “Bitcoin! Bitcoin! Bitcoin! Bitcoin!”.

Does anyone want to interview me?
 

Aqua_lung

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In debt too, apparently.
(Tho obviously I don't know what crazy medical bills or otherwise she might have)
Weird interview.
I listened to the interview when it first aired, she also sold her house to live in an apartment if I remember correctly. Smart move financially but also a red flag for an investor.
 

blaaislaai

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That CEO invested at the wrong time, and now badmouthing the crypto? Lol
 

netcruiser

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Greed. Only idiots bought at 18K. She would have done well with those Bitcoin she bought at 4K (up more than 100% now).
 

elysian

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I too had a poor childhood from the age of 11 in 1987. Moved to CT with my GF after varsity (worked part time jobs to pay my way since Std 9). She had a crappy car and R4k, I had about R400 and an old TV, hifi and all our possessions in the car. Broke down close to Storms river at sunset and had to hike to get to the garage and organise some help. lol.

Now we are doing very well relatively. And I made a nice profit off Bitcoin by not being a greedy douche and using my brain. Shame on you Magda. ;-)

Edit: And I too have a little bit of debt, but I can pay it off in 1 month if I choose. Just keeping the remaining homeloan open to keep me on Tier 5 on ucount, as I make a profit on money back that way. Sorry, not bragging (ok, I'm drunk) but quite an irritating article, when all us normies on this board probably make a lot better decisions in life.

I guess my message is that we don't need to follow these captains-of-industry-gods and buy into this journalism if we just find a way to make these things work for ourselves.
 
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Chris_the_Brit

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I listened to the interview when it first aired, she also sold her house to live in an apartment if I remember correctly. Smart move financially but also a red flag for an investor.
The apartment she lives in is in the 'rather expensive' (hehe) V&A...
 

Daruk

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Did she sell? What did she sell for? That would have been relevant. If not, then she hasn't lost a cent. Weird story.
 

Grant

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i disagree
bitcoin saved me a large amount of money

moving money across shores was never quicker, easier or cheaper
 
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