Hedge Fund Manager Says BTC’s Growth Is What Makes It Investible

Hedge Fund Manager giant Mark Mobius who is also the founder of Mobius Capital Partners, believes that if Bitcoin continues to grow he would consider investing in the major crypto asset. Let’s find out why in the coming altcoin news below.

At the beginning of this month, Mobius stated that every portfolio needs to have at least ten percent of gold in order to hedge against the global economy and the performance of the equities market. He noted that despite the major geopolitical risks surrounding the Middle East as a result of the US-China trade war, investors should be exploring all options.

The Hedge fund manager stated in an interview that bitcoin and its current growth rate is not necessarily viable as a store of value but if it continues to grow, it would have to get involved in the market. He noted:

‘’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.

But the problem with these cryptocurrencies is that it is not that widely used except in a lot of illicit activities. But, at the end of the day, there are many people who do believe in it and if it continues and grows, then I would probably have to be a buyer and be involved in this.’’

In 2018, the narrative of crypto assets such as Bitcoin and its main goal to be used to settle proceeds of criminal activities has incredibly subsided due to the emergence of many blockchain analytics companies and technologies. Regulated exchanges became much more sophisticated and there are companies that work on preventing terrorism financing and money laundering.

As it was reported previously in the latest cryptocurrency news, compared to gold, bitcoin only accounts for about 2.5 percent of the market cap of the precious metal. The volume of bitcoin relative to its market cap is in good shape so the market value of the asset would have to grow exponentially in order for the asset to be considered as a safe haven asset.