Warren Buffett has changed his mind about gold as an investment, making some people think he would do the same with Bitcoin. Max Keizer has predicted that the CEO of Berkshire Hathaway will panic buying bitcoin at $ 50,000.
Buffett changes his mind about gold, Bitcoin could follow
Billionaire investor Warren Buffett has always had a negative view of gold as an investment. He said earlier repeating that he preferred to buy shares of good companies instead of all gold investments. However, that has changed.
Buffett’s company Berkshire Hathaway revealed Friday that it dumped bank shares and took a position in a gold miner. The price of gold recently spiked to more than $ 2,000 an ounce. Berkshire Hathaway closed position in Goldman Sachs completely, reduced position in JP Morgan Chase by 61%, and sold holdings in Wells Fargo and PNC. Instead, the company bought a stake in Barrick Gold, one of the top gold mining companies, and sent the miner’s shares on Monday along with shares of its competitors.
Another investment that Omaha of Omaha made no secret of not liking is Bitcoin. In 2018, he referred to the cryptocurrency as “rat poison square.” In February, he had lunch with the founder of Tron, Justin Sun and several operators of other crypto companies. Sun chased him his first bitcoin, stored in a Samsung Galaxy Fold phone. However, the billionaire investor gave it to a charity and insisted he would never own bitcoin.
Nevertheless, Buffett’s changed attitude toward gold has led people in the cryptocurrency sector to question whether he will do the same with bitcoin. Jason Williams, co-founder of Morgan Creek Digital, tweeted Saturday:
Buffett sold banks and bought gold. He will soon be buying bitcoin.
While few people in the crypto-niche Buffett’s change of heart on gold were seen as bullish on bitcoin, many on social media still do not believe he will ever invest in BTC. One Twitter user said, “He does not understand technology, but he is old as gold, that makes sense.” Another suggested he was too stubborn to buy bitcoin. “His pride is much more valuable to him,” a third user concluded. Some believe that the CEO of Berkshire Hathaway has already secretly invested in bitcoin.
Some people tried to guess at what price level Buffett will start buying bitcoin. Popular television staff and bitcoin proponent Max Keizer sees Buffett’s gold investment as positive for bitcoin. Believe that the CEO of Berkshire Hathaway will start to panic – buying the cryptocurrency at $ 50,000, the same level he feels would attract the golden bug Peter Schiff and veteran investor Jim Rogers, tweeted Emperor:
Warren Buffett will start panicking buying bitcoin at $ 50,000, just like Peter Schiff.
Do you think Warren Buffett will change his mind about bitcoin? Let us know in the comments section below.
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