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No, billionaire Warren Buffett can’t buy all of Bitcoin’s current supply, but it’s not like he wants to touch crypto anyway.
Berkshire Hathaway CEO Warren Buffett, the world’s fourth richest person, is currently sitting on a $ 137 billion cash pile, meaning he can gobble up the entire circulating supply of Bitcoin.
In the event that “the Oracle of Omaha” decides to engage in crypto, Binance CEO Changpend Zhao says it is unlikely to be successful.
Cash can’t buy you everything
CZ explains that the 89-year-old billionaire would need all holders to sell him his existing coins at current prices. This seems extremely exaggerated as most of them expect significant price appreciation in the long term.
Therefore, Buffett will have to content himself with a very small portion of BTC that he will be able to buy “at very high prices.”
CZ, whose net worth is estimated at $ 2.6 billion, claims that only He has a minuscule amount of fiat currency and does not plan to sell his crypto riches.
Buffett says crypto is worthless
Of course, just because Buffett has amassed a mountain of cash doesn’t mean he intends to touch Bitcoin. After missing Google and Amazon, he continues to discard cryptocurrencies.
The legendary investor once called the cryptocurrency “rat poison squared” and “a mirage.” During his 2020 interview on CNBC, he once again attacked crypto by saying “it was worthless.”
Too many planes, too few orange coins
Given how blatantly Buffett criticizes BTC, it’s no surprise that crypto Twitter had a field day when Berkshire Hathaway announced a staggering $ 50 billion loss in the first quarter due to the COVID-19 crisis that hit the shares of the airline.
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