The famed Swiss investor and business mogul Marc Faber, known as ‘Dr. Doom’, has apparently bought his first Bitcoin. In the latest cryptocurrency news, he is in the focus because of this move and an interview in which he revealed that he recently bought BTC for the first time – mainly in order to learn more about cryptocurrencies as well as as a follow-up on his persistent and high-profile badgering.
The nickname “Dr. Doom” comes from his rather pessimistic outlook. Faber, who is worth at around $25 billion, famously predicted the crash of 1987 and pens the Gloom, Boom and Doom monthly market report.
March report “The Dilemma between the ethical and virtuous versus the pragmatic and opportunistic capitalistic System” published. https://t.co/k29bzcK3DY
— Marc Faber (@gloomboomdoom) February 28, 2019
It was actually the younger users of the newsletter who convinced Faber to take the plunge and buy Bitcoin. According to many, this is a sign that younger and more clued-up investors have influence and are gradually asserting it on the old expert.
However, Faber is not the only one of the business moguls and billionaire investors to jump the Bitcoin bandwagon. Warren Buffett, who is one of the richest people on Earth, previously called Bitcoin “rat poison squared” but in the latest news, is also appearing positive to blockchain as part of BTC’s technology.
Buffett was a guest on the CNBC Squawk Box where he praised blockchain despite admitting that he doesn’t fully understand it. As he said in the interview:
“It’s a very ingenious thing to figure out how to have a limited supply and make it harder and more expensive to create. This is explained to me by people a lot smarter than I am.”
The signs of a subtle shift in attitudes towards Bitcoin are more and more obvious, mostly seen through the $40 million investment coming from two US pension funds into Morgan Creek Digital’s crypto venture fund.
A lot of people now claim that the market has bottomed out. Meanwhile, wealthy investors and institutional money are aware of Bitcoin’s potential. Faber is one of them, claiming that he bought BTC at the end of February where the price for 1 Bitcoin was around $3,8000 per coin. As he said, BTC now looks better from a technical perspective and the crash contributes to his analysis.
“It’s not certain, but possible, that Bitcoin will be the standard for money transfers,” Faber hinted.
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