The Bitcoin and cryptocurrency market, which was in a downtrend before the Russian invasion of Ukraine, started to recover.
Bitcoin, which fell to the level of $ 33,000, increased by 18.58% in the last week and reached $ 44,602.
“If I Was Russian I Would Buy Cryptocurrency!”
Speaking to CNBC, Mark Mobius, co-founder of Mobius Capital Partners, evaluated that the rise of Bitcoin may be due to Russian citizens buying Bitcoin.
“I would say that this is the reason why Bitcoin is on the rise right now.
Because cryptocurrencies are a way for Russians to get their money and wealth out. If I were Russian, I would buy cryptocurrencies.”
Veteran investor Mobius stated that without Bitcoin, Russians would have a hard time transferring money. “Without Bitcoin, the Russians would really be in trouble with all the closures of different ways to transfer money.” said.
Gold Gained Importance!
Mobius, also referring to the historical development of gold, advised investors to diversify their portfolios and buy some gold, since such geopolitical tensions are effective in the markets.
“Gold, traditionally a safe haven in times of uncertainty, is a place for investors to be. As I’ve said for a long time, having some physical gold is very important.”
Gold, which rose more than 6% in February, continues to be traded at $ 1,915 per ounce at the latest.
Finally, Mobius advises European investors to start diversifying from Europe towards the US and some Asian markets.This is a very good lesson in diversification.” said.
*Not investment advice.