🔒 Alec Hogg: Tencent hits it out the park

Challenges are mounting for Bitcoin and other privately created alternatives in the crypto currency Wild West. An excellent story by Greg Ip of our partners The Wall Street Journal explains how Bitcoin has been largely useless for buying legal things but frighteningly effective at facilitating extortion.”

  • In the light of the criminal activity, it’s little surprise regulators are working hard at finding ways to combat the cryptocurrency deficiencies. Leading the charge is the US Fed whose chairman Jay Powell (above) took the unusual step last night of publishing a video statement on the matter. You’ll find it all on Biznews.com by clicking here.
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  • Some good news at last for recently embattled Naspers shareholders. Tencent, in which Naspers/Prosus owns 31%, published stellar financial results yesterday. Click here for the WSJ’s take on the numbers.
  • Also on the WSJ this morning, click here for a superb article about what commodity prices are saying about inflation. And on topic the same topic, our partners have produced an interactive tool which you can use to calculate your own household’s inflation rate. It works for us here on the southern tip of Africa. A must for Stats SA sceptics. Click here.

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