Bitcoin Is Massively Overvalued, Billionaire ’Bond King’ Jeff Gundlach

作者:NewsBTC - 2 年前 - 阅读时间:3 分钟

Bitcoin Is Massively Overvalued, Billionaire ’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.

Related Reading | ARK Invest CEO Cathie Wood On What Will Drive Bitcoin 更正

Bitcoin Is A Spectator’s Market

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.”

“如果你是一个动量投资者,这就像玩轮盘赌,只要轮子没有出现在零点或双零点上,它就会起作用。 你在赚钱,在赚钱,然后最终你得到一个双零,你就破产了。 动量投资者往往会在荣耀中走出。”

BTC trading at $43,750 | Source: BTCUSD on TradingView.com NFTs Are Junky Stuff

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.”

相关阅读 |杰克·多西推出 Bitcoin 国防基金援助面临诉讼的开发者

冈拉克进一步表示,对他来说,在购买艺术品之类的东西时,他只会购买质量。 将其与房地产进行比较,他表示“你真的应该购买最高质量的资产,因为这些资产可以非常稳定地升值。”

在金融市场等待美联储的决定之际,这位亿万富翁还警告说,如果美联储收紧货币政策,可能会使经济陷入衰退。

来自的特色图片 Bitcoin 来自 TradingView.com 的新闻、图表

原始来源: NewsBTC