In a recent episode of the “We Study Billionaires” podcast, Oaktree’s Howard Marks shared his thoughts on Bitcoin, which have drastically changed since he was outspokenly negative about it in 2017. The billionaire investor said that he can now understand many arguments in favor of Bitcoin, including its similarities and advantages compared to gold.

“There’s a big argument that [bitcoin is] digital gold, that it has some of the qualities of gold in the sense of being inflation-resistant, and maybe crisis-resistant. But relative to gold, it has advantages,” Marks said. “You don’t have to pay to store it, it’s not challenging to send it someplace or move it around, and you can spend it — which you can’t do with gold.”



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