In the current wave of financial markets, the change in attitude of value investing guru Howard Marks has attracted widespread attention. He once criticized Bitcoin, but now he agrees with it. This change is not only a change in attitude, but also a subversion of traditional investment concepts. Let us unveil this upheaval in the investment field and see how this master re-examines Bitcoin, the digital currency.

As a leading figure in the field of value investing, Howard Marks has always been known for his rigorous analysis and unique vision. However, when he began to take a second look at Bitcoin, his views were surprising. This kind of defection by the value investment master triggered a huge response in the industry. What kind of thinking and logic is hidden behind his change of perspective? Let’s dig into it.

In the past period of time, Bitcoin, as a virtual digital currency, has been controversial. Traditional investors are wary of it, believing that its value cannot be stable. However, over time, Bitcoin’s performance gradually changed people’s opinions. Its price fluctuations are no longer as violent as in the past, but show a relatively stable trend. This change also made Howard Marks re-examine the potential of Bitcoin.

In a recent article he wrote, Marks pointed out that Bitcoin’s decentralized nature and scarcity give it “value” properties to some extent. He believes that the emerging technology and financial changes represented by this digital currency will have a profound impact on the traditional financial system. This recognition is not only a recognition of Bitcoin itself, but also a prediction of the future financial landscape.

As global financial markets continue to evolve, investors are constantly looking for new investment opportunities. As a new form of asset, Bitcoin is attracting more and more attention. Howard Marks' change in attitude also means a change in traditional investment concepts. He no longer viewed Bitcoin simply as a speculative instrument, but began to think about its potential investment value from a long-term perspective.

Although the future development of Bitcoin is full of uncertainty, it is this uncertainty that also brings more opportunities to investors. Howard Marks' transformation may be just a microcosm of many investors. In this era full of changes and opportunities, we will wait and see what kind of sparks the collision of tradition and innovation will create.

In this financial world full of variables, the defection of value investment guru Howard Marks has undoubtedly triggered a lot of thinking. His recognition of Bitcoin is not only a change in attitude, but also a prediction of the future financial landscape. Investors may be able to draw some inspiration from it, examine their own investment concepts, and develop a broader investment horizon. How Bitcoin will develop in the future, perhaps only time will tell. But no matter what, the transformation of value investing master Howard Marks will undoubtedly become a legend in financial history. I hope we can all seize opportunities and realize wealth appreciation in this wave of financial change.

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Andrew, son of Marx, founder of Oaktree Capital, the world's largest distressed asset investment institution
Marks previously purchased Bitcoin for his family and earned considerable wealth. As a result, Marx had a different view on Bitcoin.

In 2017, Marx criticized digital currency as a baseless trend. However, in his "Investment Memorandum" released in January, he told readers that he would humbly understand this project before there is enough information to deny cryptocurrency. Innovative Technology.

Today, Marx is more optimistic about Bitcoin. In an exclusive interview with the Korea Economic Daily on Tuesday (3/16), Marx generously admitted that his criticism of Bitcoin many years ago was a subconscious reaction without enough information, and he now finally understands how much he lacked understanding. thing.

Marx said: "My first reaction was to react without having enough information, which is not a good way to behave. So three to four years ago I was willing to comment on Bitcoin; but now I finally understand that I have How much you don’t understand… You shouldn’t talk about things you don’t know.”

Move from criticism to approval

Marx wrote in an investment memo in 2017: "To me, digital currency is nothing more than an unfounded fad, or even a pyramid scheme. It is based on everyone's willingness to invest and give value to On worthless items.”

Four years later, Marx told the Korea Economic Daily that the reason he initially dismissed Bitcoin was because he believed that Bitcoin lacked intrinsic value. However, many things that people want and are valuable, such as art, diamonds, and gold, actually have no real intrinsic value.

Marx went on to talk about the advantages of Bitcoin being traded 24 hours a day and what he sees as the characteristics of the digital currency.

“No one knows your property but you, and the government can’t know, so no one can steal it from you, which is even more advantageous than emerging market currencies.”

However, even Marx, the billionaire founder of an alternative asset management company, seems not entirely convinced that Bitcoin supporters are ready for the digital asset.

Marx said that one of the main reasons for Bitcoin's popularity is the limited supply of only 21 million, but he believes that the reason why the public wants cryptocurrencies is because there is too much demand and further pushes the price, which sounds more appropriate. Similar to a cyclical market mechanism.

Marx is still not convinced by the various arguments people have made about holding cryptocurrencies, and said whether these reasons are sufficient is a question that everyone should think about.

Despite this, Marx still admits that the value of Bitcoin has indeed exceeded his expectations.

He said that when he criticized Bitcoin in 2017, the price of Bitcoin was around $5,000, and now the price of the cryptocurrency has exceeded $55,000, and even hit an all-time high of $60,000 last weekend.

Marx said humorously: "I disagreed very much in 2017, and so far I have not been able to prove that my opinion at that time was right; on the other hand, those investors who bought Bitcoin at 5,000 yuan, judging from the current situation, they may just It’s the right side.”