Oaktree Capital Howard Marks Changes His Mind About Bitcoin: “Demand Is Rising”

Billionaire Howard Stanley Marks has had a change of heart on bitcoin, according to a new interview with the Korea Economic Daily.

The Oaktree Capital co-founder said he was “very dismissive” in 2017, but growing demand has shifted his perspective.

Marks originally dismissed bitcoin as having no intrinsic value, but that’s less of a hang-up now, he argued.

“But there are a lot of things that people want and value highly which have no intrinsic value. The supply is fixed by the software … so it can’t expand much, unlike the dollar which can be printed in infinite amounts. And the demand is growing because more people are interested in it,” Marks was quoted as saying.

Find out more

Start trading Bitcoin