Mobius Says El Salvador Unlikely to Spur More Bitcoin Adoption

Central American nation is first to use crypto as legal tender
Emerging-markets investor calls Bitcoin inconvenient and risky

Mark Mobius, co-founder at Mobius Capital Partners, discuses countries embracing Bitcoin, financial technology in frontier markets, and investing in physical gold as a currency.Source: Bloomberg

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By Yakob Peterseil and Francine Lacqua

September 7, 2021 at 10:52 AM UTC

This article is for subscribers only.

Veteran investor Mark Mobius says El Salvador’s move to adopt Bitcoin as legal tender is unlikely to set off a rush among other countries to follow suit.

The co-founder at Mobius Capital Partners, who spent more than three decades at Franklin Templeton Investments, told Bloomberg TV that few if any other nations are likely to embrace Bitcoin as legal tender, calling the largest digital coin inconvenient and risky.