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Max Keiser believes that the Bitcoin price will shoot up to $50,000 per BTC as a result of Warren Buffet moving into gold.
The vocal Bitcoin proponent and TV anchor Max Keiser has commented on the recent decision of Warren Buffett to move his funds from stakes in major global banks and make a bet on Barrick Gold miner stocks, saying that the Berkshire Hathaway CEO is wrong about gold, banks and, what’s more, he is likely to be wrong by chiding Bitcoin.
Bloomberg has reported that the world renowned investor, aka the Oracle of Omaha, Warren Buffett has decided to shift his investments from banks and move them into the stocks of Barrick Gold.
He has reduced his financial presence in several big name banks, such as JPMorgan Chase, Wells Fargo, etc, after many years of considering these institutions to be a ‘a good business as long as they don’t make major mistakes’, according to Bloomberg.
Previously, U.Today reported that the investment guru and a popular non-fiction writer Robert Kiyosaki slammed Buffett for his ‘old-dated strategy’ of ignoring gold, the stock market and Bitcoin, sitting on his billions of cash.
Now, Warren Buffett has started to gradually move into gold. However, Max Kaiser believes that he is wrong about pretty much everything – gold, banks, airlines and Bitcoin, which Buffett previously referred to as “rat poison squared”.
Max Keiser believes that following Buffett’s move into gold, the global investment business is likely to bet 5 percent of its funds on gold.
This, in its turn, lead Keiser to believe that around 1 percent of the funds would be allocated into Bitcoin (following the recent move of MicroStrategy who bought $250 million worth of BTC). That’s $1 trillion.
“Global $100 trillion fund management biz is less than 1% invested in Gold. With Buffett now moving into Gold expect global allocation of 5% AU min. Expect a 1% BTC global allocation ($1 trillion).”
The crypto community and Bitcoiners in particular have always been critical about banks, referring to Bitcoin as something that would put them out of business.
As for gold, the Winklevoss twins have recently stated that unlike Bitcoin, gold has an infinite supply in the space (in particular referring to Elon Musk, NASA and their plan to explore gold and other precious metals on asteroids, while pitching Bitcoin to Dave Portnoy).
Tyler Winklevoss tweeted:
“The supply of gold is infinite in our galaxy, the supply of Bitcoin will always be fixed. Long-term, there will be no comparison between these assets. Gold will be to bitcoin in the future like sand is to gold today.”
In other trending Bitcoin News today:
Raoul Pal: Bitcoin will become best performing asset in the world!
Former Goldman Sachs employee Raoul Pal has been one of the most bullish on Bitcoin’s future in recent days.
Pal has made a bullish prediction for the first cryptocurrency by market capitalization and said that Bitcoin will be the best performing asset in the coming years.
Comparing it to other assets such as gold, stocks and commodities, Pal outlined:
“Almost everything is an inferior trade to Bitcoin (…) And there is nothing – except currently Ethereum and that’s in a shorter-term time horizon because it was underperforming massively – but on any meaningful time horizon, whether it’s one-year, two-year, three-year, four-year, five-year, six-year, Bitcoin’s basically outperforming everything, and it’s breaking out versus everything, or – another term – everything is breaking down versus Bitcoin.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.