Howard Marks Issues a Mea Culpa on Bitcoin, But He's Still Not Investing
- Oaktree co-chairman sees value in alternative currency claims
- Bearish billionaire says bitcoin still a speculative bubble
The Wild Swings in Cryptocurrency Investments
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Billionaire investor Howard Marks, who ignited a fierce backlash from cryptocurrency advocates after dubbing bitcoin a “fad” in July, has a had change of heart. Well, sort of.
Bitcoin, in fact, boasts a key attribute that may spur the digital method of exchange to serve as an alternative to legal tenders and as a store of value in the years to come: the simple fact that people believe in it.