Howard Marks, billionaire investor and founder of Oaktree Capital Management is adamant about his stance on cryptocurrencies like bitcoin, Ether and others: “They’re not real.”
“Some people are eager to speculate on digital currency for profit,” he writes. “Others want to put a little money into these to-date-profitable phenomena rather than run the risk of missing out. But they’re not real!”
Eulogy made by: Howard Marks
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This is another example of an uninformed outsider making uninformed statements. It’s painfully obvious that he has little knowledge about the utility of bitcoin and it’s underlying technology, the blockchain.
To state that bitcoin has no use cases other than speculation is absolutely ridiculous. Either Marks is too lazy to do even a modicum of research, or he is so embarrassed that he’s missed this incredible opportunity that he feels a need to publicly poo poo what is proving to be one of the greatest opportunities for financial gain in a generation.