{"id":34671,"date":"2021-01-13T17:15:00","date_gmt":"2021-01-13T15:15:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34671"},"modified":"2025-08-28T21:40:23","modified_gmt":"2025-08-28T18:40:23","slug":"howard-marks-concedes-that-his-critique-of-bitcoin-was-unfounded","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/howard-marks-concedes-that-his-critique-of-bitcoin-was-unfounded\/","title":{"rendered":"Howard Marks Concedes That His Critique of Bitcoin Was Unfounded"},"content":{"rendered":"<p>Co-founder of the investment firm Oaktree Capital Group, Howard Marks, whose fortune is <a href=\"https:\/\/www.forbes.com\/profile\/howard-marks\/?sh=45c8d67b2d8a\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">is estimated<\/a> at $2.1 billion, called his negative stance toward cryptocurrencies a mistake.<\/p>\n<p><!--more--><\/p>\n<p>In 2017, the billionaire <a href=\"https:\/\/www.oaktreecapital.com\/docs\/default-source\/memos\/there-they-go-again-again.pdf?sfvrsn=56d4f265_6\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">advised to refrain<\/a> from investing funds in any digital assets, as they are &#8216;not real&#8217;.<\/p>\n<p>In the January 2021 investor memo, Marks questioned his previous stance. He said his view on Bitcoin changed after discussions with his son, who is positive about cryptocurrencies.<\/p>\n<blockquote>\n<p>\u201cMy skeptical views did not bear out,\u201d the billionaire wrote.<\/p>\n<\/blockquote>\n<p>The co-founder\u2019s family now holds a substantial amount of Bitcoin. He noted that the cryptocurrency had been bought previously by his son.<\/p>\n<p>In Marks&#8217;s view, innovative investment instruments always evoke skepticism.<\/p>\n<blockquote>\n<p>\u201cWhen new assets appear, few believe in what seems absurd relative to the deeply entrenched status quo,\u201d the billionaire said.<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"scribd_iframe_embed\" title=\"Something of Value\" src=\"https:\/\/www.scribd.com\/embeds\/490590255\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-SxckCw03zZxZYUsnkrTu\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"true\" data-aspect-ratio=\"0.7729220222793488\"><\/iframe><\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View Something of Value on Scribd\" href=\"https:\/\/www.scribd.com\/document\/490590255\/Something-of-Value#from_embed\">Something of Value<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/536021228\/ForkLog#from_embed\">ForkLog<\/a><\/p>\n<p>In November, Ray Dalio, founder of Bridgewater Associates\u2014the world&#8217;s largest hedge fund\u2014acknowledged that <a href=\"https:\/\/u1f987.com\/en\/news\/billionaire-ray-dalio-admits-he-may-have-been-wrong-about-bitcoin\">could have been wrong<\/a> about Bitcoin.<\/p>\n<p>Follow ForkLog on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Co-founder of Oaktree Capital Group, Howard Marks, whose fortune is estimated at $2.1 billion, said his negative stance toward cryptocurrencies was a mistake.<\/p>\n","protected":false},"author":1,"featured_media":34672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138],"class_list":["post-34671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34671"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34671\/revisions"}],"predecessor-version":[{"id":34673,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34671\/revisions\/34673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34672"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}