Famed Swiss investor, analyst and, until recently, crypto skeptic Marc Faber, 73, has bought his first bitcoin in another sign the old guard of investments is warming to crypto.
Speaking to German finance website Cash, Faber revealed he recently bought bitcoin for the first time to learn more about cryptocurrencies and following some persistent and high-profile badgering.
Gloom, Boom and Doom
His normally pessimistic market outlook earned him the nickname “Dr. Doom.” Faber, with a net worth reportedly around $25 billion, famously predicted the crash of 1987. He pens the Gloom, Boom and Doom monthly market report.
March report “The Dilemma between the ethical and virtuous versus the pragmatic and opportunistic capitalistic System" published. https://t.co/k29bzcK3DY
— Marc Faber (@gloomboomdoom) February 28, 2019
Younger readers of the newsletter, plus a “one-hour talk” with Wence Casares, CEO of Xapo, convinced Faber to take the plunge and buy bitcoin.
It’s a sign younger, clued-up investors who place more trust in crypto than traditional markets, are gradually asserting their influence on the old guard.
But Faber is not the only billionaire investor to be linked to crypto. Warren Buffett, 88, who famously called Bitcoin “rat poison squared” last year is also warming to blockchain.