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"Warren Buffett will buy Bitcoin soon"


On Friday, it was reported in several major media outlets that US billionaire investor Warren Buffett's company Berkshire Hathaway bought 21 million Barrick Gold shares worth $ 563 million. This is something that investors like Buffett (known as value investors) have not done before.

According Jason A. Williams, Morgan Creek partner, Bitcoin is Buffett's next thing to score and he'll buy it soon. Gold and Bitcoin have been in rivalry as a store of value and as a viable investment. While gold is physically tangible, Bitcoin is generally referred to as digital gold, so Buffett's purchase of gold shares could mean that it's only a matter of time before he considers buying Bitcoin as well.

Gesturing is a great milestone in investment history and could be very good for gold, which in turn has done well. According to a Forbes report, the decision to buy the stock may have been inspired by a close and careful tracking of gold's performance on the charts that Buffett and his partner Charlie Munger may have found interesting. But the effect may not end in gold.

Bitcoin bull and investor Max Keizer believes that the domino effect of Buffett's gold investment is likely to push the price of Bitcoin to $ 50,000. In a tweet, he explained that the billionaire's involvement with gold will spread as Bitcoin is considered by many to be digital gold.

“The global $ 100 trillion fund management business is invested less than 1% in gold. With Buffett now moving to Gold. Expect a global allocation of 5% AU min. It involves $ 5,000 of gold. Expect a global BTC allocation of 1% ($ 1 trillion). This implies $ 50,000 per Bitcoin. Expect PTJ increases up to 10% ”.

There have been several attempts to convince Buffett to invest in Bitcoin, notably Justin Sun's lunch meeting with him. Despite the reception, all of Sun's efforts to get Buffett interested in the digital asset were futile. If you finally buy Bitcoin, it will be a dream come true for the cryptocurrency sector and it may usher in a new era for the industry as a whole.

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