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Mobius Capital founder explains why Bitcoin is rallying amid Russia-Ukraine War

Mobius Capital Founder Explains Why Bitcoin Is Rallying Amid Russia-Ukraine War

Veteran investor Mark Mobius, the founder of Mobius Capital, explains why the price of bitcoin is rallying as the Russia-Ukraine crisis deepens. He said that bitcoin is now showing strength because Russians have a method of getting their money out.


Mark Mobius: Why Bitcoin’s Prices Are Rising

Mark Mobius (founder of Mobius Capital Partners) explained why bitcoin prices have been rising in an interview with CNBC Tuesday, as the Ukraine crisis escalates.

Mobius was the executive chairman of Templeton Emerging Markets Group before he started his own company. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018.

Mobius was asked whether he would buy bitcoin in this environment since the price of BTC is rallying. He said, “I wouldn’t be a seller,” but added, “If I were a Russian, I would buy .”

He shared that many foreigners visit Dubai to purchase properties. He said: “I was speaking to a property agent yesterday. He stated that they would buy any item. They have Swiss bank accounts .”

that they can withdraw money from Switzerland.

Mobius said: “If they are able to pay with bitcoin. That’s a way to get money out Russia,” he said.

I would say that’s the reason why bitcoin is showing strength now because the Russians have a way of getting money out, of getting their wealth out.

“They are in real trouble because of all the closings of other avenues for them money to transfer out,” the veteran investor said.

Mobius is a long-time bitcoin skeptic. He advised people to not view cryptocurrencies as an investment option in November 2017. It’s a way to speculate and have some fun. But then you got to go back to stocks at the end of the day,” he advised.

Many analysts believe that cryptocurrencies cannot help Russia avoid sanctions. Ari Redbord, a representative of TRM Labs, stated on CNBC Monday that Russia will use cryptocurrencies but there isn’t enough liquidity in these markets to enable Moscow to combat the severe sanctions imposed by Washington and its allies.

What do you think about Mark Mobius’ comments? Comment below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

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BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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