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Crypto is a religion not an investment, investor Mark Mobius says

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Global investor Mark Mobius on Wednesday called cryptocurrencies a religion, joining a chorus of digital coin skeptics at a time when bitcoin and ether are trading near all-time highs.

“It’s not an investment, it’s a religion,” the founder of Mobius Capital Partners said on CNBC’s “Squawk Box.”

“People should not look at these cryptocurrencies as a means to invest. It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day,” he added.

Mobius isn’t alone in slamming crypto. JPMorgan Chase CEO Jamie Dimon has also vocally criticized the likes of bitcoin, mostly recent calling it “worthless” and “fool’s gold.”

Billionaire investor Paul Tudor Jones, on…



Source cnbc.com

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