Mobius Capital Founder Says Crypto Is Not an Investment but a ‘Means to Speculate and Have Fun’ – Bitcoin News – News Couple

Mobius Capital Founder Says Crypto Is Not an Investment but a ‘Means to Speculate and Have Fun’ – Bitcoin News

Mark Mobius, founder of Mobius Capital Partners, says cryptocurrency is not an investment, describing it as “a way to speculate and have fun.” He favors stocks and believes that “the US market will continue to thrive and continue to do well”.

Mark Mobius Doesn’t See Cryptocurrency as an Investment

Mark Mobius, founder of Mobius Capital Partners, spoke about cryptocurrency in an interview with CNBC on Wednesday.

Prior to founding his own company, Moebius was CEO of Templeton Emerging Markets Group. He joined Templeton in 1987 managing more than $50 billion in emerging market portfolios. He founded Mobius Capital Partners in March 2018.

“It is not an investment,” he said of cryptocurrencies, explaining:

People should not look at these cryptocurrencies as a way to invest. It is a way to speculate and have fun. But then you have to go back to stocks at the end of the day.

Unlike Mobius, many popular investors and fund managers see Bitcoin as a good investment. Popular investors Paul Tudor Jones and Stan Druckenmiller, for example, have said that bitcoin is a great hedge against inflation. Jones even recently admitted that he prefers cryptocurrency to gold.

Other people who have recommended bitcoin as an investment include Rich Dad Poor Dad author Robert Kiyosaki who last week predicted that the United States would suffer a major crash, followed by a new depression. Moreover, CEO of Morgan Stanley said last month that bitcoin is not a fad and cryptocurrency is not going away.

Mobius further cautioned against rising inflation on Wednesday, noting that stocks are the best bet in the current environment. He said:

Stocks are definitely the answer because devaluation will not go away, which means that inflation will continue at a high rate in the future. Do not forget that the money supply in the United States has increased by more than 30%.

While he emphasized, “We believe that the US market will continue to thrive and will continue to perform well,” the founder of Mobius Capital Partners indicated that the main problem for the US market is the possibility of raising interest rates.

“Of course, the biggest concern is interest rates, if [global central] He concluded that if the banks decided to raise interest rates after they bought the bonds, this could be a major concern not only in the US but in emerging markets in general.

What do you think of Mark Mobius’ comments? Let us know in the comments section below.

photo credits: Shutterstock, Pixabay, Wikicommons

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