Lebanon’s Preferences and Warning from Wealth ExecColin Baseman
Gold along BTC may feel too speculative. According to Peter Mallouk, investors should trust the government – this is the surest way to receive payments. The cryptocurrency is not the best option for beginning investors. This is especially important to understand after the COVID-19 and the economic disaster it has brought to many countries. Some time ago, Mallouk predicted the BTC’s future and said that what he sees ahead looks rather bleak.
The officer working with investments noted that bonds and stocks may become much better alternatives. Investors should reconsider their further actions and not bother purchasing Bitcoin right now. Gold is no option, either. Experts believe that in some instances it is better to choose fiat over cryptocurrencies.
A Few Reasons Why We Don’t Need Gold and BTC
Mallouk has carried out thorough research and is now ready to present his reasons why he thinks that he sees no need in purchasing gold or Bitcoin. He believes that the world of cryptocurrencies is rather speculative and it is not the right time to rely on BTC or gold. He thinks that cryptocurrencies face too many ups and downs. There is no stability and trying to make investments in the crypto may lead to failure.
Specialists admit that there are some dangers and risks and what they call ‘speculative’ is mainly any asset that cannot generate any income. They do not bring any profit to an individual as an investor. The cryptocurrency has outperformed gold. The same applies to oil and bonds. This is when Mallouk made his conclusions and expressed his opinion regarding the issue. This year, the BTC’s performance cannot have any comparison. What we witness is that the cryptocurrency has eliminated the losses from its previous crash. This, in turn, has taken down the markets that we consider ‘traditional’. Analysts say that their recovery, unfortunately, might have been much less probable or certain.
After some time, Mallouk expresses doubts. He thought that his recommendation might look less attractive than expected. While advising on purchasing bonds, Mallouk mentioned a few other factors and noted that people should pay attention to how much blind trust the entire process requires. Oftentimes, investors expect too much and pin a lot of hope on what seems to be reliable.
Also, Mallouk couldn’t avoid mentioning that when an individual decides to loan money to the government or he makes investments into a company, both the company and the authorities are promising to pay him his money back. The process reminds of that we usually see when we loan money to a family member. We do hope that the relative is economically strong, reliable, and stable. What we expect is that the person will pay us back and we will not lose our money.
Bitcoin has been the biggest cryptocurrency for quite some time and some investors did not feel any doubts while purchasing the crypto. Its ‘hardness’ makes people believe that BTC may serve as an alternative to fiat currencies. The value of the investment can be destroyed if we are talking about fiat. However, in this sense the crypto is different.
Investors in Lebanon Give Preference to Bitcoin
Lebanese consumers voted against fiat investments and gave preference to the cryptocurrency. The survey demonstrates the number of people in Lebanon who would rather receive salaries in BTC than fiat. The pound is losing its power and its value is low. The change has made the population look for better options and more trustworthy alternatives.
Researchers predict that BTC will inevitably fail. They are convinced that the crypto’s death is not far away. Whether their prognosis is right will become clear in the nearest few months.
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