Bitcoin and gold will grow: chief strategist at Morgan Stanley
Gold and Bitcoin will continue to rise
Promotions may collapse next year
Mike Novogratz and Robert Kiyosaki support investing in bitcoin
Ruchir Sharma, Chief Strategist, Morgan Stanley Investment Management stated, that alternative investment instruments such as gold and bitcoin, will be continue to grow in price against the background of an endlessly additional issue of money from the side central banks.
Millennials are buying up cryptocurrencies
IN his interview on CNN channel Sharma shared his opinion on the current economic situation in the world. In particular, he noted that the world economy will recover next year, that will lead to increase bank rates. it can lead to to that, that the shares of many technological companies decrease in price. therefore already Today worth thinking about new ways to invest, as the endless printing of “cheap money” by the Federal Reserve USA will eventually lead to a decrease in the value of the dollar.
Talking about alternative investment assets, the chief strategist of the investment company primarily has in mind gold and bitcoin, which have strengthened amid the coronavirus pandemic. When asked by a journalist about the most profitable investment, Sharma replied that “this choice of generations ”. By him opinion, older people still buy gold, but millennials prefer to invest in bitcoin.
However, he noted that “gold is a very speculative asset,” stressing that “in the long term, stocks much better than gold. ” Sharma also quoted an article in The New York Times, in which it was said that for the last 100 years of inflation-adjusted US stock returns are around 7% in year compared to 1% for gold.
However, Sharma is still considers, that in the next three to five years “gold will be relatively normal. ” Recalling that “central banks are printing so much money and we need some security.”.
“Having about 5% of your portfolio in gold is not a bad idea, and if you are a little more adventurous, and I guess it is more related to demographics, then, obviously look for bitcoin and others cryptocurrencies”, – said Sharma.
Gold and Bitcoin are the perfect solution
Another prominent investor and author of Rich Dad Poor Dad, Robert Kiyosaki, shares Ruchira Sharma’s opinion. He is sure that dollar can no longer be considered an attractive investment vehicle due to the deplorable state of the US economy. It is being replaced by silver, gold and bitcoin.
Kiyosaki himself does not deny that he is investing funds in gold, silver and partly in bitcoin. And although the crypto coins did not receive until widespread in society, the best-selling author believes that every year quantity crypto investors will increase.
“I think it’s time for old guys like me to understand that the world of cryptocurrencies is growing rapidly, and the number investors in real estate and gold is declining, “he said.
The idea of investing in gold shared by another crypto expert Mike Novogratz. Chapter digital Bank Galaxy Digital advises keeping more gold in an investment portfolio, than bitcoin due to the high volatility of the virtual asset. Novogratz noted that bitcoin will surpass gold in economic parameters at least due to that a virtual asset everything yet at the beginning of its development.
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