As a CryptoManiak I tend to be zealous about crypto -- regardless of markets. But today marks a day that pushes me even further into the bull zone. Marc Faber, famed Swiss Investor who predicted the financial crash of 1987 -- and used it to fuel his $25 billion of wealth -- recently bought his first Bitcoin!
As a CryptoManiak I tend to be zealous about crypto -- regardless of markets. But today marks a day that pushes me even further into the bull zone. Marc Faber, famed Swiss Investor who predicted the financial crash of 1987 -- and used it to fuel his $25 billion of wealth -- recently bought his first Bitcoin!
It’s a very ingenious thing to figure out how to have a limited supply and make it harder and more expensive to create. This is explained to me by people a lot smarter than I am. (Warren Buffet)
Dr. DOOM
Marc is known as Dr. Doom on account of his fame as a permabear. The man even writes a monthly market report titled: Gloom, Boom, and Doom. He’s generally a sourpuss about markets and such, and never shied away from predicting Bitcoin’s death.
Recently, however, he went on the German finance website Cash -- and revealed he wanted to learn more about cryptocurrencies after a “one-hour talk” with Wence Casares, CEO of Xapo, and numerous young readers of Dr. Doom’s articles convinced him to dive in. Who knows, maybe his readers were inspired after reading our Ultimate Beginners Guide.
Warren Buffet next to try digital gold?
Warren Buffet and Dr. Doom are all too similar. They’re part of the old guard. They like things the way they are, they’ve already accumulated more money than they could ever spend, and now they’re quite comfortable telling other people what to do. Warren Buffett certainly hasn’t shied away. He once called Bitcoin “rat poison” and a “delusion.”
But just like old Dr. Doom -- his old guard ways are giving in. CNBC’s Squawk Box interviewed him -- and Buffett praised blockchain:
“It’s a very ingenious thing to figure out how to have a limited supply and make it harder and more expensive to create. This is explained to me by people a lot smarter than I am.”
These words and actions by two titans of industry are sensational. Doubly so since they are being made in the middle of a bear market. During a bull run I might say that euphoria has gripped these old geezers. But no, if they are trying BTC and speaking about BTC in the middle of a downtrend -- then they are looking at the fundamentals of cryptocurrency… and they like what they see.
