Legendary Investor Says He May Have to Become a Bitcoin Buyer – Plus Ethereum, Ripple and XRP, Stellar, Tron
From the flippening of a former crypto critic to the latest on Justin Sun’s meeting with Warren Buffett, here’s a look at some of the stories breaking in the world of crypto.
Mark Mobius, an emerging-markets pioneer and co-founder at Mobius Capital Partners, says he may have to become a Bitcoin buyer if the leading cryptocurrency continues to grow. Mobius is concerned about the use of crypto in illicit activities, but says ultimately Bitcoin’s adoption will depend on whether people have faith in its utility.
“Let’s face it, all currency is based on faith. And if you have faith in the dollar or faith in the renminbi or faith in the euro, then you can use it…
But look, at the end of the day, there are many people who believe in it. And if it continues and grows, then I would probably have to be a buyer and be involved in this.”
Mobius is a former crypto critic who began to change his tune back in May, telling Bloomberg’s Daybreak Europe podcast he believes Bitcoin is here to stay.
“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially. So that is really the backing to Bitcoin and other currencies of that type. So I believe it’s going to be alive and well.”
Mobius spent 30 years at Franklin Templeton, started an emerging markets fund and oversaw about $50 billion in investments as the company’s chief investment officer. He left the company to start his own fund management firm in March of last year.
The Ethereum Foundation is working to ensure that its native cryptocurrency Ether (ETH), which is the second biggest cryptocurrency by market cap, is compatible with Islamic law.
Virgil Griffith, who is in charge of the Foundation’s special projects, told CoinDesk that the move is designed to boost Ethereum-based projects overseas.
“My job is to keep rolling dice. Probably nothing will happen. But there’s a hypothetical case where say, the Saudi sovereign wealth fund invests, like, a trillion dollars [in ethereum projects], which would be a real boon. That would be really great.”
Ripple and XRP
Ripple is now looking for a new senior manager of security operations at its headquarters in San Francisco. It’s one of 60 open positions at the company.
— Jim Chauncey-Kelly (@JChaunceyKelly) July 7, 2019
The Stellar Development Foundation’s head of partnerships, Lisa Nestor, just gave a speech at the Crypto Valley Conference in Zug, Switzerland. Nestor’s speech focuses on the future of finance and overall growth of the Stellar network.
“Right now, the volume on Stellar is around 375,000 daily payments, which is modest compared to networks like Swift, Visa or Mastercard, but we’re growing. And what’s pretty amazing is that all those payments cost about $1.50, across everyone – $1.50 total.
Even better is that all those payments are executed across a network that no one entity owns, and consistently in 5 seconds, no matter how far the distance between the two endpoints.
Stellar makes payments anywhere, between anyone instant and near free. It can connect any two points and allow for trades between any currencies or forms of value. It’s an incredibly novel technology and solution approach. And truthfully, it needs to be, because the problem Stellar is trying to solve is massive.”
Tron founder Justin Sun says he’s now invited leaders from three crypto companies to join him at his upcoming lunch with legendary investor and crypto critic Warren Buffett. The lunch is set for July 25th in San Francisco.
As of now we’ve only invited @SatoshiLite of Litecoin, @Binance and @HuobiGlobal to the @WarrenBuffett lunch. Please report any suspicious parties that claim to be invited to avoid any financial loss.
— Justin Sun (@justinsuntron) July 5, 2019