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.

Startup-3299033_1280

Image source: pixabay, the picture has nothing to do with the article

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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The exchange's big melee is coming soon, new assets, new flows, new mechanisms, which one is the magic weapon?

The first half of 2019 is definitely the most lively six months in the history of digital currency. This kind of exci...

Blockchain

PAData: FCoin potential victims or more than 2000 people, per capita loss or more than 25 BTC

Analyst | Carol Editor | Bi Tongtong Production | PANews Data Partner | Chain.info On February 17, the FCoin, which w...

News

Policy reshuffle is intensified: the crisis and new life of virtual currency exchanges

The virtual currency exchange industry may have to "change the sky", which seems to be the consensus of the...

Blockchain

Graphic dismantling: Where did FCoin assets go? Is there a problem with the funding chain in 2018?

Author: PeckShield, the original title "graphic dismantling FCoin assets to its heyday already noticeable declin...

Bitcoin

OKX will launch a signal strategy and has now opened a signal provider recruitment.

The signal strategy function is expected to be officially launched in August to September 2023. This function will al...

Blockchain

User information is not guaranteed? UK Customs and Excise Department asks cryptocurrency exchanges for transaction data

According to Coindesk's August 7 report, the UK tax authority, the HMRC, is putting pressure on cryptocurrency e...