Howard Marks: “luckily my family owns a significant amount of BTC”


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Howard Marks, co-founder of Oaktree Capital Group, which manages $ 140 billion in assets, said his family owns a “significant” amount of bitcoin.

This is quite interesting, because in 2017 the investor expressed skepticism about the first cryptocurrency and said that he did not see the point in it. However, in the last article, he admitted that his views were not confirmed:

“In 2017, in my annual article, I expressed a high level of mistrust towards Bitcoin. Andrew and I talked a lot about this, because he has a positive view of Bitcoin. Fortunately, this has resulted in our family holding a significant amount of BTC. The situation is developing, but I can say that my skepticism has not been confirmed. ”

Howard Marks did not become a fan of cryptocurrencies, but emphasized that digital assets should also be considered when choosing investment tools.

“The nature of innovation is that few initially believe in a new seemingly absurd tool. And when innovations start to work, these madmen suddenly become geniuses. Without real knowledge of what is happening, without trying to present a positive scenario, it is impossible to form a correct opinion, ”wrote Marx.

Note that, according to Bitwise, in 2020 the number of financial advisers investing in cryptocurrencies increased by 50% compared to the previous year.

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