The future of Bitcoin has been brightly reignited. Mark Mobius, Investment Guru and co-founder of Mobius Capital Partners has taken a strong turn on his thoughts about Bitcoin (BTC).
Previously, Mobius once branded Bitcoin a “real fraud”, but has now come out in a recent newswire podcast with Bloomberg, announcing that he strongly believes that Bitcoin will be “alive and well” in the future.
“There is definitely a desire among people around the world to be able to transfer money easily and confidentially. I believe that Bitcoin and other cryptocurrencies of that type are going to be alive and well.”
This comes after the price of Bitcoin rapidly rallied to above $8,000 USD at the beginning of May, 2019. Since the beginning of the year the price of Bitcoin has doubled, gaining as much as $2,000 USD in just two days.
Mati Greenspan, eToro’s Senior Market Analyst has stated why the change in Bitcoin and cryptocurrencies alike has changed recently,
“Many of those who are heavily entrenched in the old financial system are unsurprisingly unswayed by the benefits of crypto, but that’s changing rapidly”.
In a recent note to clients, Greenspan wrote,
“The volatility is one of the most attractive qualities of crypto from an asset managers perspective. The idea of asymmetric risk allows us to use this unique and uncorrelated asset class to greatly increase our return on risk in any otherwise well-diversified portfolio.”
Currently, at time of writing, the price of Bitcoin is sitting at $7,940.36 +8.78%.