Renowned Swiss investor and central bank critic Marc Faber has finally bought Bitcoin (BTC). Does this mean the bear market is on its way out?
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.
Marc Faber Famously Skeptical of Bitcoin
Bitcoin has always piqued the interest of the savvy investor — who is famous for buying depressed assets — due to the parallels drawn between gold and commodities.
Dubbed by the press as “Dr. Doom,” Faber is typically pessimistic over the outlook for financial markets and a staunch critic of central banks — whose monetary policies, he believes, lead to the financial recession.
Interest or no, he has remained skeptical and refused to invest in Bitcoin. However, last week, Faber admitted in an