An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong. Photo / AP
An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong. Photo / AP
Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's what's happening now that the dust is settling from the crypto crash, and how the mainstream investing world is reacting to it. Hosted by Frances Cook.
The crypto world is just startingto catch its breath after what was one of the nastiest crashes in its history.
A supposedly safe stablecoin, Luna, cratered and may never recover.
The ripples of fear went far and wide, and the entire crypto market fell about 30 per cent. In a single day, the market lost US$200 billion, or in New Zealand dollars, $320 billion in value.
So, is this proof that it's all a bubble, like the infamous tulips? A ponzi scheme?
Or, as crypto enthusiasts like to say, it is just that we're all victims of FUD – fear, uncertainty, and doubt? Will it bounce back, and then we nonbelievers will be the idiots who miss out on all the money that could be made?
Frankly, I suspect the answer is somewhere in the middle, but what would I know?
Now that the dust is settling, let's talk to the people who've had a front row seat to the disaster.
For the latest podcast I talked to BusinessDesk markets reporter Dan Brunskill, and Kōura Wealth managing director Rupert Carlyon.
For the interview, listen to the podcast here.
• If you have a question about this podcast, or a question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here , Instagram here, and Twitter here.
