Gundlach goes bearish on Bitcoin

Bitcoin

Bond guru ad the CEO of DoubleLine, Jeffrey Gundlach, said while he is long/bullish o gold, he is bearish on Bitcoin.

In an investor webcast, Gundlach said he is expecting “the opposite of 2018” because gold, bitcoin, stocks and bonds are all making money.

The statement is coming less than 24 hours after we reported that Facebook has enlisted an elite group of tech companies and payment giants including Uber Technologies Inc, MasterCard Inc, Visa Inc and PayPal Holdings Inc to support its new digital currency.

The WSJ said each participant are to invest about $10 million in the creation of the digital currency which is to be pegged against various fiat currencies.

Gundlach did not make know his bitcoin holdings.

In the last 24 hours, Bitcoin has averaged around $8000 on various exchanges.