As usual in the global market, there will always be supporters and non-supporters, winners and loosers, bull or bear sentiment etc.
So in today’s article, I want to share with you the viewpoint of a well respected investment manager who doesn’t believe in Bitcoin and other cryptocurrencies.
According to Peter Mallouk, the President and CIO of investment firm Creative Planning Inc, we will likely see cryptocurrencies collapse and warns against buying into Bitcoin.
Mallouk tells CNBC Make It, that there are so many different types of virtual currencies, such as Litecoin, Ethereum, Ripple and, of course, the world’s most popular cryptocurrency(Bitcoin), that there’s no way that even a fraction of them can survive.
‘Is it possible that maybe one or two will work out in the future? Sure it is’, he says.
However, he continues ‘if you buy cryptocurrency, you get no income. It’s not a real investment. It’s speculation.’
He believes that as a general rule of thumb, you don’t want to own something that’s not going to pay you.
‘Instead, invest in things that are going to pay you to own them.’
‘Own real estate, where you’re collecting rent. Own stocks, where you’re collecting dividends. Own bonds, where you’re collecting yield
I will say the Investment Guru(Peter Mallouk) understands what his saying but I don’t totally agree with him.
What do you think?
Let me have your opinion whether his right or wrong in the comments box below👇.
Thanks for reading 🙏.
Article Source: Chepicap.com