Mark Mobius, global investor, called cryptocurrency religion on Wednesday. This was in addition to a number of digital coin skeptics. bitcoin etheThe r stock is trading at all-time highs.

Mobius Capital Partners founder said that “it’s not an investment, it’s religion.”Squawk Box“

These cryptocurrencies should not be viewed as investment tools. This is a way to speculate and have some fun. “But then, you have to return to stocks at end of day,” he said.

Mobius isn’t the only one who slams crypto. JPMorgan ChaseChief Executive Officer Jamie DimonAs well as vocally criticizing bitcoin and its popularity, he has called it “‘”worthlessAn October investment conference featured “fool’s Gold” and “fools money”.

Billionaire investor Paul Tudor JonesHowever, CNBC’s Jeremy argued that crypto does have its place and said to CNBC last month, “cryptocurrencies are an option.” better bet against inflation than even gold.

Mobius is a global markets expert who worked for Franklin Templeton until he started his own business. He believes that stocks are best because they have currency and inflation considerations.

He said that stock options are most likely the best option because devaluation will not stop, and inflation is expected to keep up at an increasing rate in the future. Do not forget to mention that the U.S. money stock has increased by over 30%.

Mobius is buoyant because of the liquidity that flows around from Covid-era central banks monetary policies.old CNBC in SeptemberA lot of the money that is made will go back to stocks.

Mobius claimed that most of his investment in Taiwan was made during Wednesday’s episode of “SquawkBox.” Our largest holdings right now are 20% of our funds in Taiwan and 20% in India. We have only five to 6% left in China.

According to the global investor, he was optimistic about technology and said that he was currently searching for best software-hardware opportunities in India.

Mobius stated that he was also watching the U.S. Market, which suggests it still has great potential, even when Wall Street is trading at record heights. “We are confident that the U.S. Market will prosper, and do well.” He said that many U.S. businesses are making money in emerging market markets.

Mobius stated that the main issue for the U.S. markets is higher interest rates. Investors hope to receive a signal about possible rate increases when the Federal Reserve finishes its two-day November meeting on Wednesday afternoon. However, the central bankers are not worried. will almost certainly announce they’re reducing the amount of bonds they buy each month. 

The biggest concern is the interest rate. [global central]Mobius stated that banks may raise interest rates once they have completed bond buying. This could pose a problem not just in the U.S., but also in emerging markets.