Veteran investor Mark Mobius reveals one key element that could reverse his stance on Bitcoin.
Mobius, who co-founded frontier markets company Mobius Capital Partners, says in a Bloomberg interview that he isn’t a Bitcoin (BTC) enthusiast even though some of his friends are.
“A lot of my friends are Bitcoin enthusiasts. I am not.”
However, Mobius says that he could change his mind about Bitcoin if it becomes accepted as a method of paying taxes.
“If governments around the world, particularly the U.S. government, allows payment of taxes in Bitcoin or some cryptocurrency, then I would change my mind. Because then it would become an internationally recognized currency. But as it stands now, that’s not the case. I don’t see that happening anytime soon.”
Mobius says El Salvador’s decision to adopt Bitcoin as a legal tender is unlikely to be replicated across the globe due to the flagship cryptocurrency’s shortcomings and the Central American country’s unique circumstances.