Bitcoin will & # 39; Alive and Well & # 39; says Renvised Emerging Markets Investor Mark Mobius

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Veterinary frontier markets investor Mark Mobius has said he believes that cryptocurrencies will show resilience as a result of the continuing demand for new forms of value transfer. Mobius made his comments during an interview with Bloomberg on 15 May.

Mobius is an experienced and pioneer investor in developing countries and emerging economies and deserves international recognition for its decades of work with the global investment firm Franklin Templeton. Last year he retired to launch a new asset management store, Mobius Capital Partners.

Having previously been cautious about crypto, the investor told Bloomberg yesterday that he believes that global demand for frictionless and private value transfers will continue to support the development and markets of cryptocurrencies. He noticed:

"There is definitely a desire from people all over the world to transfer simple and confidential money, that is really the support for Bitcoin and other currencies of that type, so I believe it will still be alive and kicking."

Mobius nevertheless put crypto investments in unambiguous terms and underlined the risks that it sees as inherent in their decentralized structure:

"Whether I want to invest in it is another question because it has incredible volatility and at the end of the day you cannot trace one individual or group or organization that would keep up with what's going on."

As a suggested example, Mobius hinted at an unnamed bitcoin exchange in Japan that "went bankrupt and lost millions" – presumably a reference to the striking collapse of bitcoin (BTC) that Mt. Gox in early 2014, which resulted in a loss of 850,000 BTC worth about $ 460 million at that time.

"You have to be very careful," he noted and underlined that he himself had no investments in bitcoin.

In addition to his work at Templeton, Mobius was chosen to serve at the World Bank's Global Corporate Governance Forum as co-chair of his investor-responsibility task force in 1999.

Cointelegraph has previously reported on Mobius' response to the hardline anti-crypto attitude that China has adopted – in particular the ban on crypto exchanges and the initial currency offering in September 2017 – that he would probably pull risky investors back to gold at that time. .

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Don Bradman

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