Mark Mobius, a well-known investor and founder of Mobius Capital Partners, compared the first cryptocurrency to casino games.
Mobius stressed that there is no reliable information, based on which it would be possible to predict the movement of the price of bitcoin. Investing in the first cryptocurrency is more like playing in a casino, and trying to predict the bitcoin exchange rate is a “loser’s game”.
“Bitcoin is a casino based on all sorts of rumors and speculation,” he said.
The recent sharp drop in the price of the first cryptocurrency by $3,000 has attracted the attention of cryptocurrency skeptics. So, Nouriel Roubini compared investing in bitcoin with gambling, and Peter Schiff called the purchase of bitcoins by the management of MicroStrategy “an extremely dangerous step”.
“I think it is wrong that Michael Saylor is playing bitcoin for shareholders’ money. If MicroStrategy has so much money that it has nowhere to put it, then it should pay dividends. And shareholders who want to invest in bitcoin can do it on their own, ” Schiff wrote on the social network Twitter.
Last year, Mark Mobius said that cryptocurrencies have not confirmed their status as a protective asset.