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The South African
04-08-2025
- Automotive
- The South African
Ferrari boss claims Lewis Hamilton not the worst signing in F1 history
Lewis Hamilton received support from his Ferrari team boss Fred Vasseur on Sunday just hours after the Briton cut a dejected figure following a lacklustre drive to 12th place in the Hungarian Grand Prix. Many have questioned why Ferrari who shell out a reported £60 million-a-year (R1.44 billion) on an aging Hamilton when there were plenty of cheaper drivers with bright – and long – futures ahead of them. Prior to signing for Ferrari for the 2025 season, Hamilton failed to beat Mercedes team-mate George Russell in the 2024 season. While team-mate Charles Leclerc proved unable to convert Ferrari's first pole position of the season into victory due to unexplained mechanical problems during the race, seven-time champion Hamilton was battling to escape midfield and finished where he started. As on Saturday, when he was dumped out of Q2 and appeared miserable, claiming he was 'completely useless' and saying the team should 'bring in another driver', Hamilton seemed utterly deflated. To most observers, it appeared as if the pressures of living up to the hype of his spectacular marquee move from Mercedes, where he won six titles, and adjusting to the culture, car and expectations at Ferrari were overwhelming him. At 40, talk of imminent retirement circled around him. But Vasseur was swift to defend Hamilton, who has always been prone to impulsive heart-on-sleeve reactions. 'I don't need to motivate him,' said Vasseur. 'Honestly, he's frustrated, but not demotivated. 'He's demanding, but I think it's also why he's (a) seven-time world champion. I can perfectly understand this situation. 'Sometimes, you are making comments on what the driver is saying (in) the car, but if you put the microphone on some other sportsmen, in football and so on, I'm not sure that it would be much better. 'Sometimes, just after the race or just after qualifying, you are very disappointed and the first reaction is harsh. I can understand the frustration, but we are all frustrated.' Vasseur added Hamilton's weekend appeared worse than it really was because of the tight and competitive times that led him to miss out on reaching Q3 on Saturday. 'For sure, when you are a seven-time world champion, your team-mate is on pole position and you are out in Q2, it's a tough situation,' he said. 'But overall, we can also have a deep look that he was in front of Charles in Q1 and with the first set that he was one-tenth off in Q2. We were not far away from having the two cars out in Q2. 'I can understand the frustration from Lewis. That's normal and he will come back. He was stuck in a DRS train, but when he was alone, the pace was good. 'I'm sure that he will be back and he will perform.' Fourth-placed Leclerc backed his team-mate. 'At the end, we are one team and as much as I want to finish in front of Lewis, I want both of us to be successful and for Ferrari to be successful, and obviously this weekend has been a tough one for Lewis,' Leclerc said. 'But I have no doubt that it's a one-off and I'm sure the second part of the season will be a lot more positive.' Hamilton, sixth in the drivers' standings, but without a podium for Ferrari this year, said he was looking forward to a much-needed 'break from work' during F1's August summer holiday before the Dutch Grand Prix on the final weekend of this month. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news. By Garrin Lambley © Agence France-Presse
IOL News
22-05-2025
- Business
- IOL News
‘Blue Sky' moment as Bitcoin surges to record high
Bitcoin has surged to an all-time high on optimism about upcoming legislation. Image: IOL Bitcoin surged to a new all-time high of $111,534 (R2,01 million) on Thursday as US debt concerns and legislative uncertainty around President Donald Trump's tax bill weighed on traditional equity markets. According to AFP, the world's most popular cryptocurrency is riding on a wave of optimism over anticipated cryptocurrency legislation in the US, which could provide clarity for the sector. Bitcoin's previous high was around $109,000 (R1.44 million), on March 11, 2005. However, uncertainty over Trump's 'Liberation Day' tariffs weighed on financial markets through early April, until the US President announced a 90-day pause on reciprocal tariffs on April 9. Bitcoin broke through the $100,000 barrier once again on May 8 and has displayed solid growth throughout the month. "Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable US regulatory environment," Antoni Trenchev, co-founder of digital asset trading platform Nexo, told Reuters. "We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards," Trenchev added. Bitcoin's rally, which has also benefited other cryptocurrencies, has triggered substantial institutional interest, with Bitcoin Exchange-Traded Funds (ETFs) seeing more than $607 million (R10.9 billion) worth of inflows following the new price peak. This institutional adoption shows growing confidence in Bitcoin as a legitimate asset class among professional investors, says Luno's country manager for South Africa, Christo de Wit. "This decoupling from traditional equities is particularly noteworthy," De Wit said. "For South African investors, this development underscores the growing importance of cryptocurrency as a potential portfolio diversification tool, particularly as global economic conditions continue to evolve." Get your news on the go, click here to join the IOL News WhatsApp channel IOL
