Investor: Bitcoin must be backed with gold to have a value

According to a well-known investor from the old days, Mark Mobius, Bitcoin would be much more attractive in that it would be backed by gold instead of the mere confidence of crypto fans.

“Believing in BTC is not enough”

During the conversation in CNBC’s Squawk Box Show, Mark Mobius expressed the opinion that Bitcoin, which is the most attractive on the crypto market, in fact, would make it even more attractive if it were backed by gold. Finally, he believes that the latter is currently still a safe haven in the market.

When asked by the TV presenter, Mobius said that an entire generation of people believe in the Internet and now in Blockchain. They trust that the DLT supports crypto currencies. In his words, Fiat money, such as the USD, is no longer backed by gold, but is also backed by popular confidence in the power of its government.

However, he said that if Bitcoin advocates take a closer look at the background of their currency, they may realize that it is a fairly risky situation.

Our trust is in gold, says Mobius

Many central banks will take measures to reduce the amount of money (basically to print cash). Therefore, many investors will turn their attention to gold, because it is an old treasure chest of investors.

However, a major new generation investor, Anthony Pompliano, believes that it makes sense to buy bitcoin instead of gold at this time. In his numerous interviews and lectures on CNBC and on his Twitter page, Pompliano endeavors to convince the audience that Bitcoin is increasingly attracting institutional investors.