Open 24/7/365

We Have A Life-Time Warranty /
Guarantee On All Products. (Includes Parts And Labor)

‘I Would Buy’ Bitcoin If Growth Continues Says Investment Legend Mobius (#GotBitcoin)

Bitcoin (BTC) could win over veteran investor Mark Mobius if its current bull run continues, he told Bloomberg on July 7. ‘I Would Buy’ Bitcoin If Growth Continues Says Investment Legend Mobius (#GotBitcoin)

Speaking in an interview on Bloomberg TV, Mobius, who has previously delivered critical statements on cryptocurrency, now said it was impossible to ignore.


Famous Former Bitcoin Critics Who Conceded In 2020-21

“I’m not a buyer, but I realize it’s something we have to account for,” he summarized.

As a veteran of U.S. finance, Mobius remains broadly on the fence about crypto, a stance nonetheless noticeably more positive than that of figures such as Warren Buffett and JPMorgan Chase CEO, Jamie Dimon.

Nevertheless, Mobius repeated controversial arguments about bitcoin and other cryptocurrencies, notably their alleged role in illicit activity such as the drugs trade.

As Cointelegrpah reported, research continues to disprove such assumptions, data suggesting that cash remains bad actors’ medium of choice.

He further claimed that cryptocurrency required belief in order to function, something true of centralized fiat currency but not, for example, bitcoin, which runs on the certainty of a mathematical formula.

In the future, however, he would be willing to incorporate it into his portfolio. He concluded:

“At the end of the day, there are many people who do believe in it, and if it continues and grows, then I would probably have to be a buyer and be involved with this.”

In May, he highlighted the ease of moving money with bitcoin as being reason to suggest it would endure.

Part of a broader U-turn which so far remains rare in traditional circles, Mobius no longer claims, as he did in 2017 when bitcoin traded around $20,000, that cryptocurrency has no intrinsic value. ‘I Would Buy’ Bitcoin, ‘I Would Buy’ Bitcoin

Updated: 9-7-2021

Legendary Emerging Markets Investor Mark Mobius Says El Salvador’s Bitcoin Adoption Won’t Likely Catch On Elsewhere

El Salvador’s move to adopt bitcoin is unlikely to find many imitators, Mark Mobius said in an interview with Bloomberg.

“It just doesn’t make sense to have a payments system with bitcoin when you can use [your] phone to make payments,” said Mobius.

Salvadoran president Nayib Bukele has said that bitcoin will help slash the cost of remittances.

El Salvador’s daring move to adopt bitcoin is unlikely to find many imitators, emerging markets veteran Mark Mobius said in an interview with Bloomberg.

As El Salvador begins its nationwide bitcoin adoption on Tuesday, the Mobius Capital Partners co-founder said the move exposed bitcoin’s shortcomings as a payment mechanism, throttling the likelihood of broader adoption.

“It just doesn’t make sense to have a payments system with bitcoin when you can use [your] phone to make payments,” said Mobius, who pioneered the world’s first emerging-markets fund at Franklin Templeton Investments. “You don’t need bitcoin, you don’t need cryptocurrency.”

Salvadoran president Nayib Bukele has said that bitcoin will help slash the cost of remittances, which made up a quarter of the country’s GDP in 2020.

But others fear adopting the volatile cryptocurrency as legal tender will imperil crucial financial-assistance talks with the IMF and destabilize the country’s already weak economic fundamentals.

“El Salvador, let’s face it, is on its back. It’s got real problems. It’s a bankrupt country,” Mobius told Bloomberg.

“They’re grasping at straws with bitcoin.”

He added that a few other countries with weak financial systems, such as Cuba, could adopt bitcoin, but otherwise, he doesn’t expect widespread adoption elsewhere.

Asked what could change his calculus, Mobius said the American government allowing taxes to be paid in bitcoin could make it an internationally recognized currency and catapult crypto into the mainstream.

“But as it stands I don’t see that happening anytime soon,” he said.

Bukele is shrugging off criticism from international investors like Mobius, doubling down on his bet with a government purchase of 400 bitcoin on Monday – worth around $20 million at current prices.

‘I Would Buy’ Bitcoin,‘I Would Buy’ Bitcoin,‘I Would Buy’ Bitcoin,


Related Articles:

Bitcoin Information & Resources (#GotBitcoin?)

High-Frequency Trading Is Newest Battleground In Crypto Exchange Race (#GotBitcoin?)

Bitcoin Back Near $12K As BTC Shorters Lose $44 Million In One Morning (#GotBitcoin?)

As Deutsche Bank Axes 18K Jobs, Bitcoin Offers A ‘Plan ฿”: VanEck Exec (#GotBitcoin?)

Argentina Drives Global LocalBitcoins Volume To Highest Since November (#GotBitcoin?)

Lawmakers Push For New Bitcoin Rules (#GotBitcoin?)

Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)

Crypto Firm Charity Announces Alliance To Support Feminine Health (#GotBitcoin?)

Canadian Startup Wants To Upgrade Millions Of ATMs To Sell Bitcoin (#GotBitcoin?)

Trump Says US ‘Should Match’ China’s Money Printing Game (#GotBitcoin?)

Casa Launches Lightning Node Mobile App For Bitcoin Newbies (#GotBitcoin?)

Bitcoin Rally Fuels Market In Crypto Derivatives (#GotBitcoin?)

World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal (#GotBitcoin?)

Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation (#GotBitcoin?)

Another Crypto Exchange Receives License For Crypto Futures

From ‘Ponzi’ To ‘We’re Working On It’ — BIS Chief Reverses Stance On Crypto (#GotBitcoin?)

These Are The Cities Googling ‘Bitcoin’ As Interest Hits 17-Month High (#GotBitcoin?)

Venezuelan Explains How Bitcoin Saves His Family (#GotBitcoin?)

Quantum Computing Vs. Blockchain: Impact On Cryptography

This Fund Is Riding Bitcoin To Top (#GotBitcoin?)

Bitcoin’s Surge Leaves Smaller Digital Currencies In The Dust (#GotBitcoin?)

Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)

Bitcoin Breaks $200 Billion Market Cap For The First Time In 17 Months (#GotBitcoin?)

You Can Now Make State Tax Payments In Bitcoin (#GotBitcoin?)

Religious Organizations Make Ideal Places To Mine Bitcoin (#GotBitcoin?)

Goldman Sacs And JP Morgan Chase Finally Concede To Crypto-Currencies (#GotBitcoin?)

Bitcoin Heading For Fifth Month Of Gains Despite Price Correction (#GotBitcoin?)

Breez Reveals Lightning-Powered Bitcoin Payments App For IPhone (#GotBitcoin?)

Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software (#GotBitcoin?)

Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments (#GotBitcoin?)

JPMorgan Will Pilot ‘JPM Coin’ Stablecoin By End Of 2019: Report (#GotBitcoin?)

Is There A Big Short In Bitcoin? (#GotBitcoin?)

Coinbase Hit With Outage As Bitcoin Price Drops $1.8K In 15 Minutes

Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature (#GotBitcoin?)

There Are Now More Than 5,000 Bitcoin ATMs Around The World (#GotBitcoin?)

You Can Now Get Bitcoin Rewards When Booking At Hotels.Com (#GotBitcoin?)

North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)

Bitcoin On Track For Best Second Quarter Price Gain On Record (#GotBitcoin?)

Bitcoin Hash Rate Climbs To New Record High Boosting Network Security (#GotBitcoin?)

Bitcoin Exceeds 1Million Active Addresses While Coinbase Custodies $1.3B In Assets

Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)

Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)

Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)

The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)

Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)

Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)

Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)

How Will Bitcoin Behave During A Recession? (#GotBitcoin?)

Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)

Definite Signs of An Imminent Recession (#GotBitcoin?)

What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)

Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)

Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)

Our Facebook Page

Your Questions And Comments Are Greatly Appreciated.

Monty H. & Carolyn A.

Go back

Leave a Reply