180 degree turn! The godfather of emerging market investment: If bitcoin goes up again, I will go buy it.

Bitcoin may win veteran investor Mark Mobius, but only if its current bull market continues, he told Bloomberg earlier this month.


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Mobius, known as the godfather of emerging markets, has previously made critical comments on cryptocurrencies, and now he said in an interview with Bloomberg TV that cryptocurrencies cannot be ignored.

“I am not a buyer, but I realize that this is something we must consider,” he concluded.

As a veteran US financial industry person, Mobius's attitude toward cryptocurrency is generally still on the sidelines. However, this position is significantly higher than that of Warren Buffett and JPMorgan Chase. Executive Officer Jamie Dimon and others are more active. Buffett and Dimon have always insisted on the criticism of Bitcoin.

Despite this, Mobius reiterated his controversial views on Bitcoin and other cryptocurrencies, especially their role in illegal activities such as drug trafficking.

As previously reported, the research continues to refute this assumption, and the data show that cash is still the medium of choice for criminals.

He further claimed that cryptocurrencies require faith to function, which is the real situation of the central fiat currency, but this is not the case with bitcoin. The operation of Bitcoin relies on a certain mathematical formula.

However, in the future, he is willing to include it in his own portfolio. His conclusion is:

"In the end, there are still many people who believe it. If it continues to develop, then I may have to become a buyer and participate."

In May of this year, he emphasized the convenience of transferring funds in Bitcoin and used this as a reason to suggest that Bitcoin will continue.

A 180-degree turn in attitudes toward cryptocurrencies like Mobius is still rare in traditional investment circles. In 2017, when Bitcoin hit $20,000, he said that cryptocurrencies had no intrinsic value.