Bitcoin Has No Value to Offer Unless It Is Backed by Gold, Says Veteran Investor

Legendary investor Mark Mobius launched yet another scathing attack on Bitcoin – and cryptocurrencies in general – during his appearance on CNBC’s Squawk Box earlier Thursday, comparing them to gold as many have before.

During his interaction at the premarket morning show, Mobius suggested that for Bitcoin to have any legit intrinsic value, it must be backed by gold. Predictably, his assessment hasn’t gone down well with proponents of the asset class.

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