Bitcoin Will Be ‘Alive and Well,’ Says Renowned Emerging Markets Investor Mark Mobius
Marie Huillet's original article for cointelegraph.com reduced by 49%
Veteran frontier markets investor Mark Mobius has said he believes cryptocurrencies will show resilience due to continuing demand for new forms of value transfer. Mobius made his remarks during an interview with Bloomberg on May 15. Mobius is a seasoned and pioneer investor in developing nations and emerging economies, earning international recognition for his decades-long work at global investment firm Franklin Templeton.
Last year, he retired to launch a new asset management boutique, Mobius Capital Partners. Having previously adopted a cautious stance toward crypto, the investor told Bloomberg yesterday that he believes that global demand for the frictionless and private transfer of value will continue to bolster cryptocurrencies' development and markets. As a proposed case in point, Mobius alluded to an unnamed Japan-based bitcoin exchange that "Went bust and lost millions" - presumably a reference to the high-profile collapse of bitcoin exchange Mt.
Gox in early 2014, which resulted in the loss of 850,000 BTC valued at roughly $460 million at the time. Alongside his work at Templeton, Mobius was chosen to serve on the World Bank's Global Corporate Governance Forum as a co-chairman of its investor-responsibility task force in 1999.
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CN [too long; didn’t read]
Summarised crypto news.