In your corner: Bitcoin’s decline is no laughing matter – Elon Musk seeks shelter from the sirocco, and so should you

In Your Corner: Bitcoin’s decline is no laughing matter – Elon Musk seeks shelter from the sirocco, and you should, too, from The Star

“,” Heading “:” “,” fullWindow “: false,” fullBleed “: false,” showFullBleedOnMobile “: false,” headColor “:” “,” type “:” html5mobile “,” textColor “:” “,” mobileImageUrl “:” “,” bgColor “:” “,” imageUrl “:” “,” registerOnly “: false,” linkUrl “:” “,” aodaTitle “:” chart “,” internalScroll “: false,” displayStyle ” : “small-up”}, {“text”: “Elon Musk recently turned” Saturday Night Live “in a surprisingly funny way, but he has also reversed the course for the cryptocurrency: Tesla no longer accepts Bitcoin. China also announced that Bitcoin will no longer be accepted as a transaction currency. “,” Type “:” Text “,” isParagraph “: true}, {” Type “:” Display “,” Heading “:” ARTICLE CONTINUED BELOW “,” name “:” ArticleFirstBigBox “,” display “:” medium -down “,” pos “:” 1 “,” interstitial “: true,” size “:[[300,250]]}, {“text”: “These developments provide a glimpse into the future. Russell Napier, economist, author of” The Solid Ground “investment report and star columnist, recently wrote that we may see a” monetary sirrocco “” ( Not the diesel-guzzling Volkswagen, but the hot old wind) as investors switch from the youthful exuberance of excessive speculation to old-fashioned, boring investments such as real estate, services, equipment and profitable companies. “,” Typ “:” text “,” isParagraph “: true}, {“Heading”: “”, “pollid”: “10839332”, “type”: “poll”}, {“type”: “textBreakPoint”, “insertAt”: “contentEndBreakPoint”}, {“text” : “We should all do well to diversify into hard, productive and money-generating assets. Ask your advisor or robo-friend to consider investing in value investments before inflation and higher interest rates come into play. End the speculation. 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person_outlineBy Paul RivettChairman and co-owner of Torstar

Monday, May 24, 2021timer1 minute. read

To updateArticle was updated 3 hours ago

At the time of our first advisory column on March 8th, Bitcoin was trading above $ 64,000. We return to remind you that we are in your corner.

By Friday, the cryptocurrency had dropped to less than $ 43,000. If you’ve followed our advice not to buy-in, you’ve saved yourself a 33 percent loss.

Elon Musk recently made a surprisingly comedic twist on Saturday Night Live, but he’s also reversed course on cryptocurrency: Tesla no longer accepts Bitcoin. China also announced that Bitcoin will no longer be accepted as a transaction currency.

These developments give an insight into the future. Russell Napier, economist, author of The Solid Ground investment report and star columnist, recently wrote that we may see a “monetary sirrocco” (not the diesel-guzzling Volkswagen, but the hot old wind) if investors move away from the youth Turn away exuberance from excessive speculation with old-fashioned, boring investments such as real estate, services, equipment and profitable businesses.

We’d all do well to diversify into hard, productive, and cash-generating assets. Ask your advisor or robo-friend to consider investing in value before inflation and higher interest rates end the speculation. We trust in Russ…. This is Russell Napier.

Paul Rivett is chairman and co-owner of Torstar, chairman of Recipe Unlimited Corp. and past President of Fairfax Financial Holdings.

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