Slope of Sawiris: “it is wrong to compare gold and bitcoin” – Bits Media

Chairman of Cairo investment holding Orascom and billionaire Naguib Sawiris (Naguib Sawiris) I expressed an opinion, that it is wrong to compare gold and bitcoin.

“I remain bullish on gold, it's a safe haven. But now people they compare Bitcoin with gold and this is wrong", – he said in an interview with The National.

Sawiris believes, that investing in cryptocurrencies is very risky due to their volatility. He warns private investors, who invest in digital assets, that they must be prepared to lose everything, if bitcoin crashes.

The billionaire also warned about a bubble, which is formed due to mispricing of assets as a result of rapid economic recovery and abundance of liquidity. According to Sawiris, some assets are overvalued and will sooner or later go through a correction.

Chairman advises investors to be selective when selecting assets, with which they fill their briefcases. He added, that investors should "always keep some of their money in cash, because it is unknown, what will happen in the future".

Previously, another strong advocate of investing in gold, billionaire and hedge fund manager Paulson&Co John Paulson (John Paulson) stated, that gold works well against inflation.