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Cryptocurrencies Have ‘No Intrinsic Value’ Says South African Hedge Fund Guru

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

Jean-Pierre Verster, the founder of a South African hedge fund Protea Capital Management, has said he does not believe there is “intrinsic value” in cryptocurrencies. He insists that cryptocurrencies have “elements of a Ponzi scheme” and for that reason, he has not invested in them. A ‘Wonderful Technology’ In remarks made during an interview, Verster however appears to adopt a stance on blockchain technology that is similar to that of cryptocurrency opponents. He explained: I think the technology of blockchain is a wonderful technology. And will find applications when it…

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