Wednesday, May 29, 2024

Mark Mobius says crypto is more of a religion than an investment

Mark Mobius is the newest entrant to an uncrowded list of crypto critics. Most entrepreneurs and investors are now opening up to crypto, but not Mark Mobius and a few others. Many feel that a lack of understanding is the major reason behind this, while others feel there is some merit to his point.

Mobius is known for his illustrious career in Franklin Templeton before setting out as a global investor. He has joined a few other critics in questioning the validity of crypto. At a CNN show, he said that crypto is more of a religion than an investment instrument. He urged people to take crypto lightly, and rather invest intensively in stocks. Crypto, he believes, is not the answer to inflation. To this point, he added that inflation is not going to go away anytime soon. Especially in the United States, the post-Covid-19 era has unleashed a liquid pool. As a result, inflation will shoot up like never. Many eminent personalities, including Robert Kiyosaki, have blamed the Biden government for not doing anything about the state of inflation in the country.

Mark Mobius believes that stocks have been and will be a better option than Crypto to beat inflation. A significant amount of the liquid money will come back to stocks, which will reignite its growth. In such a scenario, cryptocurrency won’t be effective. While Mobius has a few supporters backing this claim, most feel that he is unaware of cryptocurrency’s full potential.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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