Bitcoin is ‘Not an Investment … It’s a Trade,’ Says Billionaire Howard Marks

Howard Marks, co-founder and co-chairman of Los Angeles-based distressed debt investor Oaktree Capital Management, slammed Bitcoin for not having any substance — while saying investors are merely speculating on its price without being able to judge its intrinsic value.  ‘It’s Not an Investment’ Marks took part in CNBC’s eighth annual conference for institutional investors – […]

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