[2019-03-14] Famous Swiss Investor Marc Faber Finally Buys Bitcoin

[tyz]

Famous Swiss Investor Marc Faber Finally Buys Bitcoin

Marc Faber may not be revered for his views on racial equality. But when it comes to investing, he’s up there with Warren Buffet — as far as successful track records go. Unlike the other aging investor who dismisses Bitcoin as a ‘rat poison squared,’ Faber finally bought his first chunk of the world’s number one cryptocurrency.

https://bitcoinist.com/famous-swiss-investor-marc-faber-finally-buys-bitcoin/

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[mindrust]

"It’s not certain, but possible, that Bitcoin will be the standard for money transfers."

As an old school investor he understands what is going on, unlike Warren Buffet.

This is only one guy. Imagine what would happen when others join. Twitter's CEO Jack Dorsey is in the game too.

They are coming.

Bullish.

[o_e_l_e_o]

Unlike Dorsey, who has said he is purchasing $10,000 a week, Faber hasn't revealed how much he has purchased - could be anything from a hundred dollars to a million dollars. It would be interesting to know, but I doubt he'll reveal it.

More importantly than him buying it himself, according to this article, he has suggested to his followers that they should buy bitcoin with an amount of fiat they can afford to lose. He has quite a large following of his monthly "Gloom, Boom and Doom" newsletter, so his sensible advice will reach many new potentially users.

[Kemarit]

Very interesting, I know this guy is a gold bug and a oil guy so I was surprised to see him going into crypto right now. What I don't like though is that since he finally enters into crypto, he might make bold predictions about Bitcoin price so that will have a positive effect on the market itself. If you wanted to know about his stances about gold, oil or anything related to the global economy, you can follow his blog here: (https://marcfabersblog.blogspot.com/).

[dunfida]

Very interesting, I know this guy is a gold bug and a oil guy so I was surprised to see him going into crypto right now. What I don't like though is that since he finally enters into crypto, he might make bold predictions about Bitcoin price so that will have a positive effect on the market itself. If you wanted to know about his stances about gold, oil or anything related to the global economy, you can follow his blog here: (https://marcfabersblog.blogspot.com/).

Thanks for the share up!

This guys wont really be similar to Dorsey in terms of purchasing number of bitcoins but the good thing that these guys is considering on jumping in.Any personalities
that are popular can really give out possible significant impact basing on their views and predictions.

[vit05]

Although the name is already known to me, I decided to read the wikipedia about him to understand the importance of what is occurring, and ...

"Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book Tomorrow's Gold: Asia's Age of Discovery"

This guy is really fantastic at anticipating many moves in the market. Of course, he must have been wrong a lot. But from this brief research I've done on him, such news is fantastic. It is a person who understands how the market moves, how it behaves globally. And he not only bought it because he believed the price would go up, but he also bought it because he saw an overall utility in the use of Bitcoin.

Funny that he has a nickname of "Dr. Doom"

[rodel caling]

"It’s not certain, but possible, that Bitcoin will be the standard for money transfers."

As an old school investor he understands what is going on, unlike Warren Buffet.

This is only one guy. Imagine what would happen when others join. Twitter's CEO Jack Dorsey is in the game too.

They are coming.

Bullish.

This an indication that investors old school investors  open up their mind about investing in this new digital currency that's possible to giive more income profits in the future much more risk but much more earning if the they know how it digital currency works.

[bbc.reporter]

"It’s not certain, but possible, that Bitcoin will be the standard for money transfers."

As an old school investor he understands what is going on, unlike Warren Buffet.

This is only one guy. Imagine what would happen when others join. Twitter's CEO Jack Dorsey is in the game too.

They are coming.

Bullish.

I reckon the hype is back on again hehehe. I also reckon that the famous people who invested in bitcoin like Jack Dorsey or Marc Faber has not looked carefully on the problem of bitcoin's mining incentives in the next 20 years.

Grin's monetary policy might be a fix.

[elda34b]

Better late than never. I thought most people already heard about Bitcoin and they could've bought it before the media make a news about it. Not really sure if this can be considered as bullish news, imo it's just another click bait article.

I'd be more happy if he wanted to use Bitcoin for payment etc.

[Slow death]

Why does not he tell us how much money he invested in bitcoin? why he does not say how many bitcoin he has? if he had bought a house, I believe he would tell us how much money he paid for the house. So why is bitcoin different? Is he afraid of hackers? Is he afraid of criminals? or is he afraid to be seen as someone who is instilling people into buying bitcoin? There are few people who are not ashamed of bitcoin and who assume the role of inspiring other people to use bitcoin, but most of these rich guys still have the feeling that they should not instilling anyone to use bitcoin because they think that with such high volatility people can lose money

[livingfree]

This an indication that investors old school investors  open up their mind about investing in this new digital currency that's possible to giive more income profits in the future much more risk but much more earning if the they know how it digital currency works.

Not all of them at least but we can imagine if most of them talks about bitcoin in a bullish way. What would be the effect? it will show on how bitcoin's greatness again when most of them talks that way.

As an old school investor he understands what is going on, unlike Warren Buffet.

Warren Buffett is already old and doesn't really go through with the fundamentals about bitcoin and on how amazing it is as an investment and store of value, he wants to stay focus with his traditional investments. It would be surprising if one day he changes his mind.

[Johnzky]

Very interesting, I know this guy is a gold bug and a oil guy so I was surprised to see him going into crypto right now. What I don't like though is that since he finally enters into crypto, he might make bold predictions about Bitcoin price so that will have a positive effect on the market itself. If you wanted to know about his stances about gold, oil or anything related to the global economy, you can follow his blog here: (https://marcfabersblog.blogspot.com/).

Thanks for this as we have been seeing another positive activities for bitcoin though this is a cause for celebration but its much better if Marc Faber will share the amount of investments so many will enter also our market from people like him

Better late than never. I thought most people already heard about Bitcoin and they could've bought it before the media make a news about it. Not really sure if this can be considered as bullish news, imo it's just another click bait article.

I'd be more happy if he wanted to use Bitcoin for payment etc.

Well you might have good views on this mate since in this days we have no idea about what news is truthful or bait,but lets see how market reacts on this

[Kemarit]

~ snip ~
here: (https://marcfabersblog.blogspot.com/).

Thanks for the share up!

This guys wont really be similar to Dorsey in terms of purchasing number of bitcoins but the good thing that these guys is considering on jumping in.Any personalities
that are popular can really give out possible significant impact basing on their views and predictions.

No problem, it's good to follow his blog to really understand where the guy is coming from and why he did jump on the bandwagon during the bearish trend. He is really old schooled and perhaps, "buy when there's blood in the streets" was and still his mantra. Let's see how it goes, this is really welcoming news for us, interesting to know though how much he really invested, millions or more?

[btyco]

Marc has impeccable timing. He missed out on those bull traps and is coming in close to the bottom. In a few years he can laugh at buffet and his old dated investments

[buwaytress]

Unlike Dorsey, who has said he is purchasing $10,000 a week, Faber hasn't revealed how much he has purchased - could be anything from a hundred dollars to a million dollars. It would be interesting to know, but I doubt he'll reveal it.

More importantly than him buying it himself, according to this article, he has suggested to his followers that they should buy bitcoin with an amount of fiat they can afford to lose. He has quite a large following of his monthly "Gloom, Boom and Doom" newsletter, so his sensible advice will reach many new potentially users.

$10k a week! I thought I recall him saying the only Bitcoin he ever had was the one sent to him for fun, I guess I just haven't caught up with the times these days. I'm not sure how I'll ever feel about all these guys. Splashing cash around like that:P Good for us I guess, but way, way better for them.

Least he's all about Lightning now, maybe I should be more grateful huh.

Faber's advice is what anyone should be doing with any investment, anyway. Because even at this stage, we could still lose it. Tiny, tiny, possibility, but present nevertheless.

[J. Cooper]

The thing I liked the most about this is is that he said:

I bought Bitcoin for the first time ten days ago.

Which, in my opinion, might reveal an iteration. So he might have bought more bitcoin since his initial investment or is planning to buy more in the future.

Unlike Dorsey, who has said he is purchasing $10,000 a week, Faber hasn't revealed how much he has purchased - could be anything from a hundred dollars to a million dollars. It would be interesting to know, but I doubt he'll reveal it.

I don't really think he's going to reveal it. He has never been very open when it comes to his fortune in general. We don't even know how much this guy is worth. So as you said his investment could range from just a couple bitcoin to a couple thousand, who knows.

$10k a week! I thought I recall him saying the only Bitcoin he ever had was the one sent to him for fun, I guess I just haven't caught up with the times these days. I'm not sure how I'll ever feel about all these guys. Splashing cash around like that:P Good for us I guess, but way, way better for them.

You've definitely been missing out since he's turned into a big bitcoin advocate in the meantime. He's a respected billionaire and is not very different from us to be fair, so I don't really mind him at all. He sees value and wants to invest, despite the fact that $10k is probably peanuts for him. But then again, I would do the same if I was in his position and had that kind of money.

They are coming.

Bullish.

Oh boy are they coming.
Never been bearish. Still Bullish.

[bbc.reporter]

Why does not he tell us how much money he invested in bitcoin? why he does not say how many bitcoin he has? if he had bought a house, I believe he would tell us how much money he paid for the house. So why is bitcoin different? Is he afraid of hackers? Is he afraid of criminals? or is he afraid to be seen as someone who is instilling people into buying bitcoin? There are few people who are not ashamed of bitcoin and who assume the role of inspiring other people to use bitcoin, but most of these rich guys still have the feeling that they should not instilling anyone to use bitcoin because they think that with such high volatility people can lose money

Maybe he is embarassed because he is holding only 1 whole bitcoin hehehe.

In any case, I do not think that he would be lying. He is a person who might be paranoid, however. He writes a newsletter called Gloom, Boom, & Doom Report.

[Betwrong]

Although the name is already known to me, I decided to read the wikipedia about him to understand the importance of what is occurring, and ...

"Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book Tomorrow's Gold: Asia's Age of Discovery"

This guy is really fantastic at anticipating many moves in the market. Of course, he must have been wrong a lot. But from this brief research I've done on him, such news is fantastic. It is a person who understands how the market moves, how it behaves globally. And he not only bought it because he believed the price would go up, but he also bought it because he saw an overall utility in the use of Bitcoin.

Funny that he has a nickname of "Dr. Doom"

What's more

Faber is credited for advising his clients to get out of the stock market before the October 1987 crash.

It appears that the guy specializes in doom predictions, and then it is particularly remarkable that he is so optimistic about Bitcoin.

I'm wondering if the latest up-surge was caused partially by this very news. OR maybe he is so genius that he bought right before the beginning of a new bearish trend?

[coolcoinz]

Smart people can see that bitcoin is already down 85% and not willing to drop any further. What's the worst that can happen? A 90% bottom and a sharp pullback? This is not much of a risk if you're looking at the big picture. I'd say a return to 10000 dollars is very probable, almost certain in the next 2 years, while at the other end of the spectrum we have a possible break below 3k. So, we have a possibility of losing less than 2k vs a chance to gain 6k.
We're no longer talking about an unknown project that very few people believe in, like it was in 2013. We're talking about a project banks and global companies are thinking about.

[1Referee]

Smart people can see that bitcoin is already down 85% and not willing to drop any further. What's the worst that can happen? A 90% bottom and a sharp pullback? This is not much of a risk if you're looking at the big picture.

We're not at the bottom anymore. If we would in fact correct 90%, that means a drop to $2000 which is almost a 50% decline from where we are right now.

I'd say a return to 10000 dollars is very probable, almost certain in the next 2 years, while at the other end of the spectrum we have a possible break below 3k. So, we have a possibility of losing less than 2k vs a chance to gain 6k.

Others don't look at Bitcoin the way we look at it. If we follow the general public's view, Bitcoin right now looks like an asset that shouldn't be touched. It's a house of cards that is on the brink of collapsing. I doubt many people that aren't interested in the tech behind Bitcoin are going to hold till the price reaches $10,000. It's more likely for them to cash out at 50-100% to secure their profits.

Based on that, the risk versus reward ratio isn't all that interesting. It makes more sense for them to wait for the trend to reverse, and buy into an increasing market. If the trend is up, they can't really go wrong in the mid term.