SIMON SAYS

Finweek English Edition - - INVESTMENT -

Ad­cock board has to­tally missed. Sure, it has many rea­sons why the deal is not real or good but ul­ti­mately it is up to the share­hold­ers, who ac­tu­ally own the com­pany, to de­cide. Ad­cock’s at­tempts to pre­vent Bid­vest en­gag­ing share­hold­ers smacks of fear. It should rather have stated its ob­jec­tions and let the share­hold­ers de­cide. cir­cu­la­tion of some 21m units and the idea is that it could be­come the world’s new cur­rency.

How­ever the prob­lem is sim­ple: it’s far too volatile to be a cur­rency and while the idea is in­ter­est­ing and the con­cept of Bit­coin cre­ation unique, the cur­rency has no real long-term fu­ture un­less it can re­duce volatil­ity to pretty much noth­ing.

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