Investor Mark Mobius, founder of Mobius Capital Partners, told CNBC that Bitcoiners may face a “real problem”.
“When that music stops, we’re going to be in real trouble”
Mobius stated that the crypto asset will not be considered a viable investment, while he said that he sees Bitcoin as a religion.
“This is not an investment, this is a religion. People believe this. People think they’re getting richer”
Side on Stocks
While Mobius says it’s good to have various speculations with Bitcoin, he thinks that crypto investors should eventually return to stocks.
The 85-year-old investor believes stocks will protect investors from rising inflation.
“Equities are definitely the best answer because devaluation of currencies will not go away. This means that inflation will rise.
According to Mobius, the possibility of banks to increase interest rates poses a great threat to the global economy.
Mobius has been known for its skepticism towards cryptos for many years. Last year, he compared crypto markets to “a casino operation.”
