Legendary Millionaire Investor Pivots from ‘Fraud’ to ‘Alive and Well’ on Bitcoin
World-renowned millionaire investor Mark Mobius has changed his mind on cryptocurrency. | Source: REUTERS/Richard Brian/File Photo
By CCN: Bitcoin has converted yet another critic. World-famous investor and emerging markets guru Mark Mobius once called bitcoin a fraud. But in an interview yesterday with Bloomberg he appeared to change his mind, saying it was “alive and well.”
“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. That is really the backing to bitcoin and other currencies of that type. So I believe it’s going to be alive and well.”
Legendary investor Mark Mobius just flipped on Bitcoin!!
“There’s definitely a desire among people around the world to be able to transfer money easily & confidentially […] so I believe it’s going to be alive and well.”
— Mati Greenspan (@MatiGreenspan) May 16, 2019
Mobius in 2018: “I think bitcoin is a real fraud”
The 81-year-old investor, founder of Mobius Capital Partners, struck a harsh tone on cryptocurrencies last year, slamming the cryptocurrency as a fraud.
“I think bitcoin is a real fraud, I really do. The first thing I do is ask people ‘can you explain it to me? Who is running it? Who is controlling it?’ And nobody can.”
He shrugged off the growing interest in cryptocurrency and likened the movement to a religion. In the 2017 interview below with Reuters, he said bitcoin was only useful for “illicit activites” and that China was right to clamp down on cryptocurrencies.
Emerging markets investor Mark Mobius talks about Bitcoin in China.