{"id":53866,"date":"2021-01-15T09:01:44","date_gmt":"2021-01-15T09:01:44","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=53866"},"modified":"2021-01-15T09:01:44","modified_gmt":"2021-01-15T09:01:44","slug":"oaktree-capital-chairman-warms-up-to-crypto-thankful-his-son-owns-enough-bitcoin-for-the-family","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=53866","title":{"rendered":"Oaktree Capital Chairman Warms up to Crypto \u2014 Thankful His Son Owns Enough Bitcoin for the Family"},"content":{"rendered":"

\"Oaktree<\/p>\n

Oaktree Capital co-founder Howard Marks is warming up to cryptocurrency. Once a crypto skeptic, he now says \u201cthankfully\u201d his son is \u201cquite positive on bitcoin\u201d and \u201cowns a meaningful amount for our family.\u201d<\/strong><\/p>\n

Howard Marks Warming up to Crypto<\/h2>\n

Howard Marks, co-founder and co-chairman of Oaktree Capital Management, talked about bitcoin in a memo published this week. He has been discussing investment strategies with his son, Andrew, a professional investor who focuses on growth and technology companies.<\/p>\n

In one section of the memo, Marks admitted that he had \u201ca high level of skepticism\u201d towards cryptocurrencies. The Oaktree Capital Management co-founder noted:<\/p>\n

\n

This view has been a source of much discussion for me and Andrew, who is quite positive on bitcoin and several others and thankfully owns a meaningful amount for our family.<\/p>\n<\/blockquote>\n

\u201cIn the case of cryptocurrencies, I probably allowed my pattern recognition around financial innovation and speculative market behavior \u2013 along with my natural conservatism \u2013 to produce my skeptical position,\u201d he explained. \u201cThese things have kept Oaktree and me out of trouble many times, but they probably don\u2019t help me think through innovation.\u201d<\/p>\n

<\/ins> <\/ins> <\/p>\n

Marks continued: \u201cI\u2019ve concluded (with Andrew\u2019s help) that I\u2019m not yet informed enough to form a firm view on cryptocurrencies. In the spirit of open-mindedness, I\u2019m striving to learn.\u201d He proceeded to direct any questions and comments about cryptocurrency and bitcoin to his son.<\/p>\n

The Oaktree Capital executive is not the only one who recently softened his view on bitcoin. Earlier this month, economist David Rosenberg pleaded<\/a> \u201cignorance on bitcoin,\u201d admitting that the cryptocurrency exceeded his expectation. In November, Bridgewater Associates founder Ray Dalio admitted that he may be wrong<\/a> about bitcoin and has since gained a better understanding of the cryptocurrency.<\/p>\n

What do you think about Howard Marks\u2019 view on bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Oaktree Capital co-founder Howard Marks is warming up to cryptocurrency. Once a crypto skeptic, he now says \u201cthankfully\u201d his son is \u201cquite positive on bitcoin\u201d and \u201cowns a meaningful amount for our family.\u201d Howard Marks Warming up to Crypto Howard Marks, co-founder and co-chairman of Oaktree Capital Management, talked about bitcoin in a memo published […]<\/p>\n","protected":false},"author":2,"featured_media":53867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-53866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/53866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53866"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/53866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/53867"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}