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Bitcoin’s sudden rise

So the eagle-eyed among you will have noticed that Bitcoin traded up sharply yesterday to break the $5,000 level for the first time since November.

It had been bumbling along between $3,000 and $4,000 in the interim period until apparently there was a huge order in the market yesterday from Asia for $100million-worth that was spread across three digital currency exchanges.

This sounds like a one-off to me, but if we see a few more orders like that, Bitcoin could be set for another upward frenzy. It’s currently trading just under the $5,000 mark.

Julian Dunkerton’s return to Superdry

The other thing I wanted to mention today was the return of Julian Dunkerton to Superdry, the company he co-founded.

There was a vote yesterday and he won the right to return and put it back on the growth track after a very difficult period in the company’s history.

Dunkerton stepped down from the board last year but has recently been calling for a major overhaul of the company following a massive cratering in its share price.

The ousted management blamed poor performance on a hangover from Dunkerton’s time at the helm but Dunkerton blamed it on their lack of vision.

All nine board members resigned after Dunkerton won 51% of the vote.

He will be the interim CEO but has also brought the current chairman of boohoo.com on board to help with the turnaround.

We’ll see soon enough who was right! For the moment, he says that he will be able to stop declining sales in four months, but a full turnaround could take two years.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Peter Watson

Peter Watson

Peter Watson founded Seiha Consulting, a career transition consultancy, after working in HR and four recruitment agencies. He was also a stockbroker for 13 years in London and Tokyo, advising some of the world’s biggest financial institutions on European and Japanese stock market investment. He started writing the Daily (previously known as “Watson’s WIFI”) to help candidates prepare for interviews – but soon found that many others wanted to read it as well!

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