Bitcoin (BTC) is not what young investors should be buying after the fall of the coronavirus, says the man who once said that the world’s largest cryptomone currency faces an „inevitable death spiral.
Speaking to CNBC on May 21, Peter Mallouk, president and chief investment officer of wealth management company Creative Planning, said stocks and bonds were better options than Bitcoin and even gold.
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Mallouk: „no need“ to buy Bitcoin or gold
„There’s no need to go into the speculative world,“ he told the network, arguing that assets like Bitcoin and gold „show a lot more ups and downs.
Basically, we define „speculative“ as anything that does not produce income and brings it to you as an investor.
Mallouk talked about Bitcoin far outperforming stocks, bonds, oil and gold so far this year. As Cointelegraph reported, the performance of the kryptonie in 2020 is unparalleled; it completely erased the losses from its fall that also brought down traditional markets. Its recovery, however, has been much less certain.
Even Mallouk himself seemed to doubt the appeal of his own advice. In recommending the purchase of bonds, he could not help but mention the amount of blind faith required in the issuer.
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„If you are lending money to a company or the government, that company or government is promising to pay you back,“ he continued.
It’s no different than lending money to your brother; hopefully, your brother is really financially stable, so if you lend him money, he’s going to pay you back.
Macro asset performance in 2020
It’s precisely this lack of need to trust that’s why Bitcoin Era, Bitcoin Code, Bitcoin Circuit, Immediate Edge, The News Spy, Bitcoin Billionaire, Bitcoin Trader, Bitcoin Evolution, Bitcoin Revolution, Bitcoin Profit has become the leading investment available in terms of its „hardness“ as money. Unlike fiat, companies or bonds, there is no need to worry about whether the actions of a small number of people will destroy the value of an investment.