Magda Wierzycka, the richest woman in South Africa, said that bitcoin has become one of her most failing investments. The businesswoman also called all cryptocurrencies a scam project that is simply designed to hide the financial pyramid under the guise of assets.
As noted, Magda grew up in Poland, but the collapse of the Polish economy forced their family to move to Austria. There, the future billionaire lived in a refugee camp. Later, the family decided to move to South Africa, where began to build their own business. Magda climbed the corporate ladder slowly, but in 2003 became the CEO of African Harvest Group. She later created her own company, Sygnia Asset Management.
For 13 years of work in South Africa, Wierzycka was able to increase its assets by about 100 times. In October 2015, Sygnia was listed on the Johannesburg Stock Exchange, after which its revenues increased by about 400%. Now Wierzycka continues to develop his own business, investing in promising projects.
According to Magda, bitcoin has become the worst investment in her life. She bought her first bitcoin for $4,000, and the last for $18,000. However, it so happened that the price of bitcoin began to decline in the same week. That time, Magda lost not only a lot of money but also a faith in bitcoin. Since then, Magda Wierzycka prefers to simply stay away from cryptocurrencies, regardless of what other investors say about them.
According to the head of Sygnia Asset Management, she never listened to other investors who recommended transferring part of the assets to cryptocurrency. It was because of this that she was able to correctly manage the funds and open several promising projects.