Mark Mobius, the founder of Mobius Capital Partners, talked about Bitcoin and cryptocurrencies on CNBC’s Squawk Box.
After emphasizing that he does not see cryptocurrencies as an investment tool, the famous investor said, “I see them as a religion.”
The legendary investor, who joined those who do not like cryptocurrencies with his negative statement about cryptocurrencies, continued his words as follows:
“People should not look at these cryptocurrencies as a means to invest. This is a tool for speculating and having fun. But at the end of the day, you need to go back to stocks. People think they are just getting rich by buying cryptocurrencies. It stems from a belief. Cryptocurrencies serve as a religion rather than an investment tool.”
Mobius has also targeted those who have invested in Bitcoin, warning that they will eventually face “real trouble”.
Stocks Instead of Bitcoin Against Inflation!
Mobius, an important name in global markets, stated that the best investment would be to prefer stocks due to inflation.
“Equities protect investors from out-of-control inflation. Stocks are the best investment vehicle because the devaluation of currencies will not go away. This means that inflation will continue at a high rate going forward.”
The investor, who has been skeptical of cryptocurrencies for years, stated that he also pays attention to the US market and that he thinks it has great potential even when stocks are trading close to record levels.