Since its inception in 2009, Bitcoin has had to deal with its fair share of critics, all of whom were highly skeptical of it. While investors like Tim Draper have championed the cause of Bitcoin and blockchain, other major investors like Warren Buffet have continued to denounce the cryptocurrency. However, there are also some who have recanted their old views on the digital asset.
Mark Mobius, Co-founder of Mobius Capital Partners, is one of them. Mobius spoke about Bitcoin and its future credentials, in light of the current Bitcoin rally, during an interview with Bloomberg. Mobius stated that people of the present era had a strong “desire” to be able to transfer their money around the world, with ease and high confidentiality.
According to him, cryptocurrencies such as Bitcoin fulfill this need. He added,
“The madness is really the backing that Bitcoin has, which is really tight. So I believe Bitcoin will be alive and well.”
However, Mobius conceded that he was yet to invest any capital in Bitcoin [BTC], since the volatility attached to the digital currency was too much for his liking.
Back in December 2017, Mark Mobius had remarked that Bitcoin gave people a tool to indulge in illicit activities and hence, was very dangerous without proper regulations keeping an eye on it. Mobius also made news after he stated that he did not see Bitcoin [BTC] as a store of value, or as a good investment.
Mark Mobius is not the first famous investor to change his opinion on Bitcoin [BTC]. Earlier in March, Marc Faber, a famous Swiss investor, made his first Bitcoin [BTC] purchase. Like Mobius, Faber was also critical of Bitcoin’s future in the financial market. However, after making his first investment in Bitcoin [BTC], Faber commented that it was possible that Bitcoin [BTC] will be the “standard for money transfers.”
This change of heart, on the part of many major investors, is promising for Bitcoin’s future as it further validates the existence and future utilization of the largest virtual asset.
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