Bitcoin is not an investment, it is a religion!

So says the founder of a huge investment company. He believes that Bitcoin is not an investment, but a religion.

Mobius Capital Partners founder Mark Mobius says cryptocurrency is not an investment, calling it “a means of speculating and having fun.” He prefers stocks and believes that “the US market will continue to thrive and do well.” That is not strange, the man is of the old school. But he is a big player, having managed a $50 billion portfolio.

A religion is Bitcoin, not a good investment

The founder of Mobius Capital Partners spoke about cryptocurrency in an interview with CNBC on Wednesday. Before starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987, where he managed more than $50 billion in emerging market portfolios. In March 2018, he founded Mobius Capital Partners.

People should not see these cryptocurrencies as a means of investing. It is a means to speculate and have fun. But then you have to go back to the stocks at the end of the day. Unlike Mobius, many well-known investors and fund managers see Bitcoin as a good investment. Renowned investors Paul Tudor Jones and Stan Druckenmiller, for example, have said that Bitcoin is a great “hedge” against inflation.

Don’t forget stocks

Mobius further warned of rising inflation on Wednesday, noting that equities are the best bet in the current environment. He says: Stocks are definitely the answer, because the currency devaluation will not go away, meaning inflation will continue at a high pace in the future. Remember that the US money supply has increased by more than 30%.