A major asset manager aimed at investing in precious metals, John Hathaway this week spoke very harshly about the financial market's insanity by crypto currency, calling this asset nothing more than garbage.

Note that the head of Tocqueville Asset Management John Hathaway is not the first traditional investor who called the crypto currency market a "bubble". Earlier, the head of Bridgewater Associates Ray Dalio and well-known investor Peter Schiff made similar statements.

John Hathaway is confident that the financial market is "in the bubble zone", and he calls the current state of affairs "garbage".

"This is an absolute bubble - in my mind there is no doubt that this is a bubble," said the financier. Moreover, the head of Tocqueville Asset Management compared the market capitalization of the crypto-currency market ($ 126 billion) to the gold market.

John Hathaway stated the following:

"Of course, you have the opportunity to earn on bubbles at any time of its maturation, but you will sooner or later need to get out of these assets. Do not forget that the market value of all digital currencies is already $ 180 billion. However, this is nothing compared to the gold market ".

The expert also said that the market has already seen a decline in attention to the gold market, due to the fact that investors are too busy with the crypto currency, which, in fact, is absurd.