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.