Tweeps drag DJ Sbu for wanting to bring cryptocurrency to ekasi
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Image: Via DJ Sbu's Instagram
Musician DJ Sbu has come under fire after suggesting cryptocurrency should be introduced ekasi.
Taking to Twitter, the star, who often chats about cryptocurrency or a digital currency, shared his plans to financially educate Mzansi about the currency to take his people to the “next level”.
The star said the next step in wealth creation is to introduce cryptocurrency in the townships. He explained that he wants to financially educate and reeducate people when it comes to digital currency and investing online.
“We are taking cryptocurrency to the hood. People need to know how to hustle cryptocurrencies. Time to unlearn and relearn about money. I'm all about education,” he wrote.
We taking Crypto to the hood. People need to know how to hustle Cryptocurrencies. Time to UNLEARN & RE-LEARN ABOUT MONEY. I'm all about EDUCATION
— #djsbu (@djsbu) September 7, 2021
This led to much discussion, with many telling the star the average person in SA couldn't afford cryptocurrency.
Others criticised the digital currency for its supposed instability and lack of profitability and dragged Sbu for “making people think it's an easy market to enter”.
Many urged the DJ to teach about money, namely how to save it and invest it when you don't have much of it before educating about crypto.
Check out some of the reactions below:
People in the hood aren’t even properly informed about normal stocks and bonds. Keep your crypto nonsense to yourself. The crypto asset class is unregulated and unpredictable. Not exactly what poor people need. https://t.co/sBhUF3ZN0v
— BLACQUE ECONOMY🇿🇦 (@TheBenjMark) September 7, 2021
Dj Sbu my brada, majority of South Africans can't afford to trade Bitcoin as it's now very high risky to invest on. Please generalise the entire Crypto market so that people can understand that there's a low risk option to invest on small coins like BTT & Shiba Inu. pic.twitter.com/UvDYP4wEQB
— Matodzi (@Matodzi_Muloiwa) September 7, 2021
Crypto and all other investment plans need financial literacy first. The people need to know how to make money and save it then only you can introduce crypto. Someone that is fully depending on the R1000 in their account is not about to blindly put it away into a crypto currency. https://t.co/0rxoBKXUIh
— Chairman (@Jazzybgothoes) September 7, 2021
🥺how I hope to be w my kids https://t.co/nOPYfVo8yD
— Mamo Makhene (@mamomakhene) September 6, 2021
People in ekasi need proper financial education, how to invest in variety of instruments, including shares, this excitement about crypto is exactly the mindset that keep most of them poor,research shows rich countries aren't excited about crypto as poor countries are.
— Phumaesixukwini (@Vusumuzi23Vusi) September 7, 2021
How will Kasi people join in when you talk 10K start? 🤷♂️🤷♂️
— Kwena_The_DJ (@DynamiQ_DJLuoda) September 7, 2021
Kasi re nyaka go thoma ka di fafandret le di 1 pon5
To be honest bitcoin is no longer profitable. Trading it better than holding it. It is only stable on those who invested millions on it or those who came all in the beginning
— Bophutatswana (@katlegoktee1998) September 7, 2021
The Lengoma hitmaker often uses his social media platform to discuss all things finance.
In July, the star had a warning for all those willing to invest in cryptocurrencies, reminding them that one should do their own research before getting into the game and that it's all about taking the risk.
“Crypto is for risk-takers and long-term investors. You may lose money any time. The market is always volatile. Only invest in cryptocurrency knowing you may lose. Go do your own research. Be informed. Don't take anyone's advice or give them your money.”
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