Categories: Bitcoin Business

Famous Swiss Investor Marc Faber Finally Buys Bitcoin

Click here to view original web page at

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 interview with Germany’s Cash that he finally has some skin in the game:

I bought Bitcoin for the first time ten days ago.

Faber didn’t make his decision overnight. (An investor of this magnitude rarely does.) As the publisher of the Gloom Boom & Doom Report newsletter, his younger audience has repeatedly urged him to buy Bitcoin over the years. However, it could have been his lengthy discussion with Xapo CEO and Paypal executive director Wence Casares that tipped the scales.

Faber also told Cash that the price of BTC “looks better” now that it has plunged from its lofty heights of roughly $20,000 in 2017. Moreover, bitcoin has actually made gains of around 15 percent in the last three months.

Does This Mean The Bitcoin Bear Market is Almost Over?

Now that funds from Wall Street and big investors famous for buying assets at their lowest price are starting to enter the space, does this mean the bear market end could be in sight? If it is, Faber isn’t making any calls:

It’s not certain, but possible, that Bitcoin will be the standard for money transfers.

He still maintains a healthy dose skepticism for the cryptocurrency, the likes any 73-year old may be expected to have. As a new and volatile asset class, he was quick to warn viewers that they should never invest more than they can afford to lose — which is always sound advice.

Images courtesy of Shutterstock.

Marc Faber may not […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Overstock Will Champion Crypto Despite Cheerleader Byrne’s Exit

Overstock will continue its crypto and blockchain-centric focus despite Patrick Byrne's exit. | Source: YouTube By CCN Markets : Online… Read More

5 hours ago

59-Year-Old Fjällräven Evolves Retail Landscape by Using Blockchain-Based Cryptocurrency for Back-to-School

BOULDER, Colo. (August 22, 2019) — As brands seek ways to engage new, digital-native communities, Fjällräven, the Swedish heritage outdoor… Read More

5 hours ago

Refining The Travel Industry Through Blockchain

If you have travelled before, then you are aware of the myriads of companies that would be involved in a… Read More

5 hours ago

NBA & Blockchain: glimpse of the future?

These days it seems companies quite enjoy adding “2.0” to the end of everything: Internet 2.0, web 2.0, etc. Well,… Read More

5 hours ago

CNBC Analyst Explains Why He is Bearish on Bitcoin

Share Tweet Send Share Earlier this week CNBC Fast Money host Brian Kelly said he is short-term bearish on Bitcoin… Read More

5 hours ago

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More