Well-known South African asset management firm: Investors are advised to keep bitcoin allocation below 5%

BlockBeats News, on September 23, according to Bloomberg, Magda Wierzycka, CEO of South African asset management company Sygnia (with approximately $20 billions in assets under management), stated that she would discourage investors from allocating all their assets into bitcoin funds and recommends that such allocation should not exceed 5%.

She said that the price of bitcoin is overvalued, but it has shifted from a speculative asset to a long-term investment target. Sygnia launched the Bitcoin Plus fund in June, which has seen significant inflows, and plans to issue more crypto ETFs on the Johannesburg Stock Exchange once regulatory restrictions are lifted.