We all make mistakes: Legendary investor changes his mind about Bitcoin...

The «bald guru» Mark Mobius now says Bitcoin is "alive and well"

 

Mark Mobius, the cofounder of Mobius Capital Partners, veteran investor who once branded bitcoin a "real fraud", now says bitcoin will be "alive and well". 

 

In a recent interview Mark Mobius said he saw a global appetite for Bitcoin in particular and that this would continue. “There’s definitely a desire among people around the world to be able to transfer money easily and confidentially… and that is really the backing to Bitcoin and other cryptocurrencies of that type,” he said.

 

In a fresh interview with Bloomberg, the emerging markets fund manager and founder of Mobius Capital Partners said he saw a global appetite for Bitcoin in particular – and that this would continue.

 

“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially… and that is really the backing to Bitcoin and other cryptocurrencies of that type,” he told the network.

 

So I believe it’s going to be alive and well.

 

His comments run in stark contrast to just eighteen months ago, when Mobius came out highly critical if Bitcoin as it circled its all-time price high of $20,000.

 

“You’ve got to separate the transmission (from) the value proposition, in other words, ‘Is it really valuable, is it worth something?’ – and that of course is not the case,” he said in a CNBC interview in December 2017.

 

Even then, Mobius highlighted the demonstrable use case for cryptocurrency: internet-based transfers with higher levels of anonymity and efficiency than that afforded by fiat.