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Bitcoin Er gríðarlega ofmetinn, milljarðamæringurinn 'Bond King' Jeff Gundlach
Billionaire Jeff Gundlach has shared his thoughts around bitcoin, saying that the digital asset is massively overvalued. Gundlach who is also known as the ‘Bond King’ is the founder of the investment firm, DoubleLine Capital.
Bitcoin which has suffered numerous dips that have caused it to lose over 30% of its all-time high value continues to struggle, but even at these low prices, the billionaire does not believe that the cryptocurrency is actually worth its current value.
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Bitcoin Is A Spectator’s MarketGundlach appeared on Yahoo! Finance to talk about a number of issues surrounding the financial markets. The billionaire is infamous among bond investors but talked about why bitcoin remains too high to purchase. For Gundlach, buying bitcoin now is a bad business move. This is because people are getting out as the price is falling and would cause the digital asset to become even more volatile.
However, the billionaire did not warn against purchasing the asset at all. In fact, Gundlach gives a price range at which he thinks that buying bitcoin would be a great move. He explained that investors should purchase the digital asset when it loses another $15,000 from its current value, putting the sweet spot for purchase at $25,000.
"Bitcoin is for speculators at the present moment. I would advise against buying it. It will be volatile as people get out. Maybe you should buy it at $25,000.”
Gundlach, who has always been a big proponent of bonds, continued to push for it. He explains that bitcoin is for momentum investors, which he likened to FAANG stocks, and for him who is an anti-momentum investor, bonds are the perfect fit, saying, “Bonds fit my culture of cowardice.”
„Ef þú ert skriðþungi fjárfestir, þá er það eins og að spila rúlletta með stefnu sem virkar svo lengi sem hjólið kemur ekki upp á núllinu eða tvöföldu núllinu. Þú ert að græða peninga, græða peninga, og svo á endanum færðu tvöfalt núll og þú ert svikinn. Skriðþungafjárfestar hafa tilhneigingu til að fara út í dýrðarljóma.“
BTC trading at $43,750 | Source: BTCUSD on TradingView.com NFTs Are Junky StuffBitcoin was not the only crypto asset that Gundlach touched on in his interview. The billionaire also focused NFTs, a fast-growing space that has gone from obscurity to one of the biggest markets in the crypto space in a matter of a year.
He explained that the growth of NFTs was too fast and like bitcoin, was an investment for “investors on large doses of steroids.”
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Gundlach sagði ennfremur að fyrir hann, þegar það kemur að því að kaupa hluti eins og list, myndi hann aðeins kaupa gæði. Þegar hann ber það saman við fasteignir segir hann að "Þú ættir í raun að kaupa hæstu gæði, þar sem þessar eignir geta hækkað mjög stöðugt."
Þar sem fjármálamarkaðir bíða ákvörðunar frá seðlabankanum varaði milljarðamæringurinn einnig við því að seðlabankinn gæti sent hagkerfið í samdrætti ef það herti peningastefnu sína.
Valin mynd frá Bitcoin Fréttir, graf frá TradingView.comUpprunaleg uppspretta: NewsBTC