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Bitcoin’s Stunning Growth Makes it Investable, Admits Legendary Hedge Fund Manager

Joseph Young
Mark Mobius isn't in the crypto game yet but will make an entry if bitcoin keeps growing. | Source: REUTERS/Richard Brian/File Photo

Mark Mobius, an emerging markets fund manager and the founder of Mobius Capital Partners, said that if bitcoin continues to grow at the current rate, he would consider investing in the dominant crypto asset.

Earlier this month, Mobius said that every portfolio needs to hold ten percent of gold to hedge against the global economy and the performance of the equities market.

Is bitcoin as a store of value narrative strengthening?

On Bloomberg Daybreak: Middle East, Mobius said that despite the presence of geopolitical risks as a result of the U.S.-China trade dispute, investors should be exploring both stocks and gold.

During the interview, Mobius said that bitcoin, at the current juncture of growth, is not necessarily viable as a store of value but if it grows, it would have to be a buyer and become involved in the market.

He said:

I’m not a buyer but I realize that it is something we have to account for. The reason why i am not a buyer is that i don’t know what the real value is and unless it is so widely held and accepted then that’s a different story. Let’s face it: all currencies are based on faith. If you have faith in the dollar or faith in the renminbi or faith in the euro, whatever it is, then you can use it.

Read the full story on CCN.com.