Mobius Capital Partners Founder Thinks Bitcoin Could Drop to $10,000

Photo: Ore Huiying/Bloomberg

Mark Mobius, who founded the investment company Mobius Capital Partners, spoke in an interview with Bloomberg about his opinion on the future movement of Bitcoin. According to him, the flagship cryptocurrency asset may continue its decline and we can see how BTC drops to the level of $10,000.

However, Moebius isn't sure if the market will crash. He called the likelihood of Bitcoin dropping to record levels just a short-term phenomenon that will not affect the situation with the cryptocurrency market as a whole.

He thinks in terms of digital assets in an optimistic way:

Cryptocurrency is not going anywhere as there are still investors who believe in it. It's amazing how the price of bitcoin has held up.

It is also noteworthy that although the cryptocurrency market is called quite strong by many well-known investors, there are still many owners of large financial assets who do not yet want to enter the territory of the cryptocurrency world. Mark Mobius, despite the words "cryptocurrency is not going anywhere," believes that investing his money and the financial resources of his clients in cryptocurrencies who applied to his investment company is too risky a step.

Mark has repeatedly commented on the scope of the cryptocurrency market. In November of last year, Moebius spoke in a rather negative way towards the cryptocurrency market. Then he said that it is not worth investing in bitcoin, and it is impossible to perceive crypto assets as a financial instrument. In his opinion, all virtual assets "are more like a religion than a tool that institutional investors should use." At the end of the summer of 2019, he called digital assets “psychocurrencies” and noted that investing in gold is a great idea. As an argument for the constant rise in the price of gold, he cited the conditions for aggressive easing of the policies of the world's leading central banks and governments.

Moebius' opinion is supported by other influential personalities. For example, Bill Gates has repeatedly spoken out in the direction of cryptocurrencies in a skeptical way. Zack Weinersmith, in turn, considers the lack of centralized authority over digital currencies the only plus of investing in crypto assets.

However, Bitcoin and other digital assets also have many supporters who do not share the position of Mobius, Gates, Weinersmith and others. Vitaly Buterin, the founder of the main altcoin, Ethereum, is a prime example. The latter, unlike classical investors, criticizes gold, calling it an extremely impractical asset, while naming many advantages when investing in cryptocurrencies.

Bitcoin is often referred to as "digital gold". Disputes on the topic "which is better, bitcoin or gold?" ongoing to this day and, apparently, will never end

At the time of publication of the material, the cost of one Bitcoin is $16,429. Over the past day, the flagship cryptocurrency has added 1.4% in value. The total capitalization of BTC exceeds the mark of $315,000,000,000, and the trading volume that traders conducted over the past day amounted to $25,400,000,000+.