Monday, December 6

Emerging Markets Guru Says Bitcoin Is A Religion, Not An Investment

Mark Mobius, known for his experience in emerging markets, said in a conversation on the Squawk Box show that bitcoin is not an investment, but a religion and a form of entertainment.

In addition to talking about bitcoin directly, Mobius stated how he thinks about China’s bans on technology, pointing out positive and negative points. China itself is the biggest loser in this history, in terms of technology.

While Mobius believes Bitcoin will stop someday, the world’s largest cryptocurrency has been around for 12 years now, growing not only in purchasing power, but also in adoption and implementation of new updates.

Bitcoin is a religion

When asked his opinion about Bitcoin and other cryptocurrencies, Mobius was skeptical about the future of the BTC, although he is aware of the devaluation of fiat currencies such as the dollar.

According to him, people are happy while this market is hot, yet when it cools down, everyone will be in danger. Mobius believes that the stock market is the most obvious option to escape inflation, and that several players will return to them soon.

“The situation with Bitcoin, and other cryptocurrencies, is religious, not an investment. People believe in them, they believe they will get rich, and it’s okay as long as the music is playing, as the ex-president of Citybank said, everyone has to get up and dance, but when the music stops then we’re in trouble. People shouldn’t look at cryptocurrencies as a means of investment, it’s a means of speculation and fun, but in the end you have to go back to equities.”, disse Mark Mobius

As Bitcoin has one of the most active communities in the financial sector, it is no wonder that it is considered by some people as Mobius.

As Bitcoin is not a forced course currency, as well as having no reserve for marketing, its disclosure has always been made by people who study the project and dedicate their time to bring knowledge to others.

the music doesn’t stop

Although Mobius believes that “the music will stop”, Bitcoin has been growing for 12 years and we are still in the beginning. The vast majority of people around the world have not had a first contact with cryptocurrency, as well as are unaware of its benefits when compared to fiat currencies.

While BTC is still underused today as a store of value, it also has a broad future as a currency as more people start using it and accepting it as a form of payment.

With that, the speech of Mobius, about Bitcoin not being an investment, can be very wrong. Bitcoin has been the main asset in the fight against inflation, mainly in terms of financial education, made by these “Bitcoin religionists” who spend their time to help other people.