Home Coins Bitcoin (BTC) Warren Buffett Changes Mind on Gold: He Will Panic-Buy Bitcoin at $50K,...

Warren Buffett Changes Mind on Gold: He Will Panic-Buy Bitcoin at $50K, Says Max Keiser


1597272304 211 Bitcoin and Gold Correlation Reaches Record High 70 Bolstering BTCs

Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with bitcoin. Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy bitcoin at $50,000.

Buffett Changes His Mind About Gold, Bitcoin Could Follow

Billionaire investor Warren Buffett had always held a negative view on gold as an investment. He previously said repeatedly that he preferred to buy shares of good companies instead of any gold investments. That has changed, however.

Buffett’s company Berkshire Hathaway revealed Friday that it had dumped bank stocks 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 firms, sending the miner’s shares soaring Monday along with shares of its competitors.

Another investment the Oracle of Omaha made no secret of disliking is bitcoin. In 2018, he referred to the cryptocurrency as “rat poison squared.” In February, he had lunch with Tron founder Justin Sun and several other crypto companies’ executives. Sun gifted him his first bitcoin, stored in a Samsung Galaxy Fold phone. However, the billionaire investor donated it to a charity and emphasized that he will never own bitcoin.

Nonetheless, Buffett’s changed stance on gold has made people in the crypto sector wonder if he will do the same with bitcoin. Jason Williams, Morgan Creek Digital co-founder, tweeted Saturday:

Buffett sold banks and bought gold. He will buy bitcoin soon.

1595889402 943 Americans to Buy Bitcoin With Their Second Stimulus Checks After1595918680 549 Hackers Transfer 28 Million Worth of Bitcoin from 2016

While a few people in the crypto niche saw Buffett’s change of heart on gold as bullish for bitcoin, many on social media still do not believe he will ever invest in BTC. One Twitter user opined, “He doesn’t understand technology but he’s old like gold so that makes sense.” Another suggested that he is too stubborn to buy bitcoin. “His pride is far more valuable to him,” a third user concurred. A few believe that the Berkshire Hathaway CEO has already been secretly invested in bitcoin.

Some people tried to guess at which price level Buffett will start buying bitcoin. Popular television personality and bitcoin proponent Max Keiser sees Buffett’s gold investment as positive for bitcoin. Believing that the Berkshire Hathaway CEO will start panic-buying the cryptocurrency at $50,000, the same level he feels would entice gold bug Peter Schiff and veteran investor Jim Rogers, Keiser tweeted:

Warren Buffett will start panic-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.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,578FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.29
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

How a Spoof Turned Into a Media Hype About Bitcoin Cash

An anonymous Bitcoin Cash (BCH) supporter says he deliberately started a spoof which successfully baited local media to report on the coin....

Dash is evolving into a decentralized cloud cryptocurrency

Payments-focused cryptocurrency Dash is starting to release insights into its new platform, which enables data to be stored within the network in the...

Bytom Weekly Report (2020. 9. 14–9. 18) | by BYTOM BLOCKCHAIN | Sep, 2020

1, SUP is the value capture token of MOV SuperTx and an important part of MOV. SUP will have the governance power of...

Pinned below $11K, Bitcoin price plays second fiddle to Uniswap (UNI)

As the weekend begins, Bitcoin (BTC) price continues to fluctuate between the $10,800-$11,000 range. Cryptocurrency daily market performance snapshot. Source: Coin360Some analysts would say the...
bitcoin
Bitcoin (BTC) $ 10,936.71
ethereum
Ethereum (ETH) $ 379.90
ripple
XRP (XRP) $ 0.248517
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 233.35
bitcoin-cash-sv
Bitcoin SV (BSV) $ 162.03
litecoin
Litecoin (LTC) $ 48.14
eos
EOS (EOS) $ 2.70
binancecoin
Binance Coin (BNB) $ 26.86
okb
OKB (OKB) $ 6.16
tezos
Tezos (XTZ) $ 2.29
leo-token
LEO Token (LEO) $ 1.21
cardano
Cardano (ADA) $ 0.091584
monero
Monero (XMR) $ 92.03
stellar
Stellar (XLM) $ 0.077692
chainlink
Chainlink (LINK) $ 10.17
huobi-token
Huobi Token (HT) $ 4.89
tron
TRON (TRX) $ 0.028104
usd-coin
USD Coin (USDC) $ 0.999920
dash
Dash (DASH) $ 72.18
neo
NEO (NEO) $ 24.44
iota
IOTA (MIOTA) $ 0.273998
nem
NEM (XEM) $ 0.115251
zcash
Zcash (ZEC) $ 58.21
maker
Maker (MKR) $ 506.23
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.20
vechain
VeChain (VET) $ 0.014356
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.80
kucoin-shares
KuCoin Shares (KCS) $ 1.18
waves
Waves (WAVES) $ 2.45