From the flippening of a former crypto critic to the latest on Justin Sun’s meeting with Warren Buffett, here’s a look at some of the stories breaking in the world of crypto.
Mark Mobius, an emerging-markets pioneer and co-founder at Mobius Capital Partners, says he may have to become a Bitcoin buyer if the leading cryptocurrency continues to grow. Mobius is concerned about the use of crypto in illicit activities, but says ultimately Bitcoin’s adoption will depend on whether people have faith in its utility.
“Let’s face it, all currency is based on faith. And if you have faith in the dollar or faith in the renminbi or faith in the euro, then you can use it…
But look, at the end of the day, there are many people who believe in it. And if it continues and grows, then I would probably have to be a buyer and be involved in this.”
Mobius is a former crypto critic who began to change his tune back in May, telling Bloomberg’s Daybreak Europe podcast he believes Bitcoin is here to stay.
“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. So that is really the backing to Bitcoin and other currencies of that type. So I believe it’s going to be alive and well.”
Mobius spent 30 years at Franklin Templeton, started an emerging markets fund and oversaw about $50 billion in investments as the company’s chief investment officer. He left the company to start his own fund management firm in March of last year. Read More at Dailyhodl...