Marc Faber, a famous Swiss Investor and banking critic, has finally bought Bitcoin (BTC). Are Bitcoin critics moving into the crypto market?
Marc Faber, also known as Dr. Doom, is a well-known Swiss investor. Faber owes his nickname, Dr. Doom, because he is typically pessimistic about the outlook of financial markets and often criticizes central banks.
The purchase of Bitcoin is ironic, since Faber has been a crypto skeptic for years and always refused to invest in Bitcoin. Last week, however, Faber mentioned in an interview with the Swiss website Cash that he had bought some Bitcoin recently.
Marc Faber told Cash:
“I bought Bitcoin for the first time ten days ago.
Besides admitting that he bought Bitcoin, Faber also mentioned during the interview that price of BTC “looks better” now that it has plunged from its all time high of almost $20,000 in 2017. Furthermore, according to Faber, bitcoin has actually made gains of around 15 percent in the last three months, making it an attractive investment.
During the interview Faber also hinted that while not guaranteed, the future of bitcoin looks promising:
“It’s not certain, but possible, that Bitcoin will be the standard for money transfers.”
The news is surprising and exciting. Dr. Doom gained international recognition after predicting the Black Monday stock market crash in 1987. With Faber now buying Bitcoin, it seems clear that big investors are changing their tune when it comes to the largest cryptocurrency.