Money Howard Marks About Bitcoin: "Now I have learned how much I do not know"

05:25  08 april  2021
05:25  08 april  2021 Source:   finanzen.net

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That’s Howard Marks , telling the Korea Economic Daily, in a video interview posted Tuesday, that he wishes he hadn’t been so quick to dismiss bitcoin in 2017, when he described cryptocurrencies as an “unfounded fad.” So what has Marks learned ? But Marks , the billionaire co-founder and co-chairman of alternative asset manager Oaktree Capital Management, didn’t sound fully convinced that bitcoin proponents had sealed the case for the digital asset, either. One of the cases for bitcoin is that since its supply is limited by a cap on how many coins can ultimately be produced and demand is increasing

( Howard Marks has warmed up to bitcoin .Screenshot via Bloomberg TV) Oaktree Capital founder Howard Marks has bitcoin on his mind. Marks , who called bitcoin , the digital coin up over 350% this year, a "fad" in a July memo, has warmed up to it after receiving backlash from the cryptocurrency Marks said he might have been too quick to dismiss the idea that bitcoin can be considered a currency akin to the US dollar. "What bitcoin partisans have told me subsequently is that bitcoin should be thought of as a currency – a medium of exchange – not an investment asset," Marks wrote.

In an interview, Howard Marks from Oaktree Capital honestly admits that his first reaction to Bitcoin was not right ago. Meanwhile, he learned how much he did not know about the popular crypto currency.

DANIEL ROLAND/AFP/Getty Images © Provided by finanzen.net Daniel Roland / AFP / Getty Images

• Marks refers to Krypto currencies 2017 as "unfounded fad"

• Investor writes Bitcoin because he has "no inner value"

• First reaction was according to Marks, however, " Not a good way to behave "

Oaktree co-founder Howard Marks was critical of Bitcoin in the past. "When it became known in 2017, I believe, I was very repellent because it has no inner value," explains Marks in an interview with "The Korea Economic Daily". However, the investor and writer has changed his attitude towards the oldest and most popular crypto currency - his statements from then he would probably not meet today.

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As bitcoin has gone more mainstream, some of the biggest names in finance are weighing in. Fundstrat's Tom Lee and value investor Bill Miller have embraced the trend. But even with many success stories surrounding bitcoin investments, seasoned investors are voicing caution. For those investments, he said, " I know it is just for fun I 'm investing, I know I could lose." If you are considering investing in cryptocurrencies, be careful. Past returns do not predict future results. Think of it like a trip to Vegas, experts like Robbins suggest: Only play with money you can afford to lose.

Just know your audience — and why they might run away once you start speaking. Why doesn’t anybody want to talk about bitcoin anymore? I have some perspective on this question. It may surprise you how much our biggest, loudest voices and boldest, clearest messages fall flat — and how the simplest interactions hold far more power than the greatest marketing slogans. Stay tuned for that. Meanwhile, enjoy your holidays catching up with friends, family, and loved ones.

Bitcoin Demand and Prize Circular

Marks is now thinking that there are a lot of things, "who want people and appreciate that no inner value." The bitcoin makes it so that the offer is determined by the software "therefore it can not expand much, in contrast to the dollar , which can be printed in infinite quantities. And demand grows because more people are interested in." According to Marks, it's like a cycle, as people wanted bitcoin because the price rises and the price rises again because people wanted bitcoin.

The question is according to Marks, whether there is also an independent reason why people want Bitcoin. - bitcoin action with plus 500 - that's how it works. 76.4% of private investor accounts lose money when using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - The Oaktree co-founder calls its confidentiality to be used for Bitcoin as arguments that he could be used 24 hours a day, 7 days a week and that Bitcoin can not be stolen so easily. In addition, the popular crypto currency is better than a threshold country currency. The question is Marks, whether these reasons are sufficient.

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You learn something new every day; what did you learn today? Submit interesting and specific facts about Starting your title with a why/what/who/where/ how modifier should be unnecessary. You know what's even more depressing? Emmett Till does have a monument of sorts. It's a sign by the

I ’ve only been programming for a few months now , but I ’ve made more progress than ever before. I ’m not saying this is the right way to go about this, it’s just the way that finally has worked for me . This is coming from the perspective of someone who has a full time job in an unrelated field, a wife and kids Doesn’t matter how brief, though I did set a goal of 5 pages of a programming book daily to complete. - do not move onto the the next 5 pages until you’ve mastered the current 5. Doesn’t matter if you’re hung up on an issue for 3 days. Google it, and think about it for days, and only once you really know

One never learns from

Marks had already written down the Bitcoin in 2017 and cryptodes called "unfounded fad", as MarketWatch reports. He now declares "The Korea Economic Daily" that he was repellent in 2017 and until now could not say that he was right. At that time, Bitcoin may have been traded at around 5,000 US dollars, now the bitcoin price is over $ 50,000 - the all-time high at over $ 60,000 US dollars. Currently, there is a good thing to the investor for the people who bought for $ 5,000 Bitcoin at that time.

"My first reaction was a hour suggestion reaction without information and that is not a good way to behave. Three to four years ago, I was ready to comment. Now I have learned how much I do not know," says Marks in the interview Honestly and explained, "You should not talk about things that you know nothing." Editorial Finanzen.net

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This is interesting!