Prominent emerging markets fund manager Mark Mobius says buying gold will result in long-term gains for investors as the world’s central banks begin loosening their monetary policies. According to Mobius, Bitcoin and other decentralized cryptocurrencies could also actually increase the demand for gold bullion, resulting in substantially more investments into precious metals.
Mobius, the founder of Mobius Capital Partners and former chairman at Templeton Emerging Markets Group, notes that gold’s long-term prospect is strong, reports BNN Bloomberg.
“Gold’s long-term prospect is up, up and up, and the reason why I say that is money supply is up, up and up…I think you have to be buying [gold] at any level, frankly.”
“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.”
Earlier this year leading crypto asset manager Grayscale sharpened the face-off between the precious metal and Bitcoin with its Drop Gold marketing campaign. A recent survey performed by Gold IRA Guide reveals just how far the #DropGold trend has gone in the US. According to the survey, Americans overwhelmingly prefer investing in gold over Bitcoin. The majority, or 84.3%, of survey respondents aged 18 to 65+ say they would rather make a long-term $10,000 investment in gold instead of Bitcoin.
However, Bitcoin is steadily carving its path as a store of value with younger respondents warming up to Bitcoin, especially 25 to 34 year-olds.
“Amongst those respondents between 18 and 34-year-old,