Why the average investor should not be investing in Bitcoin right now

Peter Mallouk, president and chief investment officer of Creative Planning, says that investors should avoid the “boom or bust” risks of assets like Bitcoin during the coronavirus pandemic. Mallouk says that now is the perfect time to be investing in stocks with many companies trading at deep discounts. Watch this video to learn more about why Mallouk says you should avoid cryptocurrency and to see where he says you should be investing instead.

Everyone has heard the stories of young people striking it rich by investing in bitcoin.

But Peter Mallouk, president and chief investment officer of wealth management firm Creative Planning, says investors turning to speculative assets like bitcoin or gold and silver are betting on the wrong investments.

“You have incredible companies that we know are not going anywhere, selling for half off. There is no need to go over into the speculative world,” Mallouk said. Investors should instead focus on buying the stocks of traditionally stable companies that are trading low because of the coronavirus shutdown.

Check out this video for a full breakdown on why Mallouk says you should avoid cryptocurrencies and to learn where you should be investing instead.

For access to live and exclusive video from CNBC subscribe to CNBC PRO:

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC


Leave a Reply

Your email address will not be published. Required fields are marked *

one × 1 =