There have always been and there probably always will be arguments for and against cryptocurrencies. While most countries across the world have accepted crypto as a mainstream digital currency, several others have held their stand against their use. Now, another known name in the investments industry has spoken up against cryptocurrencies.
“I do not think cryptocurrencies are in the category of viable investments. It is speculation you could play with it, have fun with it but do not consider it as an investment,” said Mark Mobius, founder of Mobius Capital Partners. He’s a stock market investor who believes the traditional approach of investing in stocks and ETFs and mutual funds is way better than a gamble in crypto.
SEE ALSO: List of top online sports betting websites
In an exclusive interview with ET, Mobius suggested gold as an alternative to cryptocurrency, saying that every investor should have at least 10% of their assets as emergencies and gold is a good option, as it’s been valuable right through the history of mankind. Talking about crypto trading, he likened it to religion, saying it will go up if other people believe the way you do, or else it won’t. So, it’s not an investment as such.
He further added that crypto is not an investment because it doesn’t pay dividends, earn you money or produces some added value or product. In the Indian stock market, Mobius has held three stocks over time namely Polycab, Apollo Tubes and Persistent Systems, and he has stuck with these for various reasons.
He’s bullish on the Indian market and you can read up a bit more on his views on stock trading when you get the time to do so. For more finance news and updates from cryptocurrencies from around the world, stay tuned to ReadScoops.com…
Register on Betway and get massive FREE Bets every week
