Former Bitcoin critic: If growth continues "I would be a buyer"

08 Jul, 2019 | Updated: 08 Jul, 2019
by Will Heasman
Bitcoin
Former Bitcoin critic: If growth continues I would be a buyer

Mark Mobius, an investment veteran and former Bitcoin critic, has revealed that if belief and growth in Bitcoin continues, then he would have to be a buyer, or risk getting left behind.

Mobius, a long-standing veteran trader and founder of Mobius Capital Partners, spoke to Bloomberg about his newfound take on Bitcoin (BTC), relaying that while he “wasn’t a buyer,” the crypto industry was becoming too big to simply ignore:

“I’m not a buyer, but I realize it’s something we have to account for,” said Mobius

While Mobius played the tired rhetoric of Bitcoins use within “illicit activity,” the investment mogul noted that with belief in BTC rising and with fundamental growth continuing, he would have to think twice about his aforementioned position on BTC:

“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.”

U-turn

This marks a huge turnaround for Mobius when it comes to his stance on Bitcoin, as previous comments allotted him in the same league as crypto detractors Warren Buffet and Jamie Dimon.

Back during Bitcoins magnificent run-up to its an all-time high of $20k, Mobius made his feelings on BTC perfectly clear in a conversation with CNBC:

“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.

Do you think Mobius will buy some BTC eventually? Let us know in the comments!

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