Experienced fund manager claims investing in cryptocurrencies is a religion
The well-known German-American fund manager Mark Mobius has offered his quite negative prognosis for the crypto market in a recent interview with CNBC. Despite the massive gains and new records set by cryptocurrencies like Bitcoin and Ethereum over the last few weeks, Mobius asserted that he does not acknowledge crypto as an investment at all.
The experienced financial expert instead thinks of crypto as a religion. It supposedly is fun to buy and speculate with crypto, but at the end of the day, he expects people to keep investing in the traditional stock market. Stocks will supposedly remain a viable investment even during times of persistent inflation, although increasing interests rates could become an issue for the stock market in the near future.
Mobius is not the only professional who has a negative view of the surging crypto market. Other experts have warned that a supposed crypto bubble could burst eventually, also because the true value behind digital currencies remains highly controversial. The recent crypto scam revolving around the hit Netflix series Squid Game further illustrates the high risks which crypto investors inevitably have to take when putting their hard earned money into mostly unregulated cryptocurrencies.
Disclaimer: This article is for informational purposes only and does not contain any kind of investment advice.