Founder of Oaktree Capital: Bitcoin and Gold Have Little Difference, Both Lack Intrinsic Value

Founder of Oaktree Capital: Bitcoin and Gold Have Little Difference, Both Lack Intrinsic Value

Founder of Oaktree Capital: Bitcoin and Gold Have Little Difference, Both Lack Intrinsic Value

According to Bloomberg, Howard Marks, co-founder of global asset management firm Oaktree Capital Management, stated in an interview on the Bloomberg Podcast “Merryn Talks Money” that the value of Bitcoin, just like gold, depends solely on the price people are willing to pay for it.

When faced with the choice between Bitcoin and gold, Marks believes that there is not much difference between the two. In his view, both Bitcoin and gold lack intrinsic value.

Marks stated in the interview:
Oaktree Capital Management, founded in 1995, is renowned for investing in distressed debt and currently manages around $180 billion in assets.

Marks believes that there has been a “sea change” in the investment environment and that we will not return to a world of zero interest rates in the foreseeable future. Therefore, he suggests that investors should invest in high-yield bond funds rather than Bitcoin or gold. Marks said:

Image source:
Bloomberg