Bitcoin He nui te uara, he pirionare 'Bond King' Jeff Gundlach

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Tai, Hanuere 13, 2022 5:00 PM

Bitcoin He nui te uara, he pirionare '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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Gundlach 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.”

“Mena he kaipakihi tohe koe, he rite ki te takaro roulette me tetahi rautaki e mahi ana mena karekau te wira e eke ki runga i te kore, te kore rua ranei. Kei te mahi moni koe, kei te mahi moni koe, ka mutu ka whiwhi koe i te kore rua ka raru koe. Ko nga kaipupuri putea ka kaha ki te haere i roto i te mura o te kororia.

Bitcoin 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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I kii ano a Gundlach mo ia, ina tae mai ki te hoko taonga penei i nga mahi toi, ka hokona e ia te kounga anake. Ma te whakataurite ki nga rawa, ka kii ia "Me tino hoko koe i te kounga teitei, na te mea ka tino maioha enei rawa."

I te wa e tatari ana nga maakete putea ki te whakatau mai i te Fed, i whakatupato ano te piriona ka taea e te Fed te tuku i te ohanga ki te paheketanga mena ka kaha ake tana kaupapa here moni.

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