Mark Mobius: Buy Gold as Bitcoin Price Rises, Central Banks Cut Rates
Adrian Zmudzinski's original article for cointelegraph.com reduced by 46%
Veteran frontier markets investor Mark Mobius suggested that cryptocurrencies will boost the price of gold. The legendary investor believes cryptocurrencies will help the rise of gold. "You have all these currencies, new currencies coming into play.
I call them 'psycho currencies,' because it's a matter of faith whether you believe in Bitcoin or any of the other cyber-currencies. I think with the rise of that, there's going to be a demand for real, hard assets, and that includes gold." Today, gold is at a six-year high as the likelihood that the Federal Reserve and other central banks will continue easing their monetary policy becomes ever greater. As the U.S.
Treasury market signals that a recession is probably coming, investors are looking at gold as a hedge. According to dedicated website GoldPrice, gold is currently trading at $1,503 - up about 15.5% since the start of the current year. By comparison, Bitcoin is up over 300% in 2019.As Cointelegraph reported at the end of July, Morgan Creek Digital Assets co-founder Anthony Pompliano says the European Central Bank's expected dovish turn will provide "Rocket fuel" for Bitcoin.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.