[2017-09-10] Howard Marks Admits ‘Mistake’, Changes Stance on Bitcoin

[tyz]

Howard Marks Admits ‘Mistake’, Changes Stance on Bitcoin

In his July memo, Howard Marks explored the world of cryptocurrencies and leveled heavy criticism at them. However, after receiving significant backlash from various media outlets for his ‘dinosaur’ views and lack of understanding of the new financial technology, Marks decided to revisit the topic to get ‘enlightened’ and ‘educated’ on the subject. In his new September memo, he claims that Bitcoin partisans encouraged him to think of Bitcoin as a currency – a medium of exchange – rather than as an investment asset.

http://bitcoinist.com/howard-marks-admits-mistake-changes-stance-on-bitcoin/

[aso118]

He admits that he might be mistaken about Bitcoin, but he is still not going to invest in it. I think the tremendous backlash he received from Bitcoin believers might have led him to change his stance. His change in mindset really shouldn't be making news.