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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.
Show Notes / Resources:
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.
— Tyler Winklevoss (@tylerwinklevoss) August 14, 2020
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. Implies $5,000 Gold
Expect a 1% #BTC global allocation ($1 trillion).
This implies $50,000 for Bitcoin
Expect PTJ ups to 10%
— Max Keiser (@maxkeiser) August 14, 2020
These are all INCREDIBLY BULLISH long-term chart patterns. The probabilities in the charts suggest that Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.
I remain #irresponsiblylongbitcoin #bitcoin $BTC
— Raoul Pal (@RaoulGMI) August 10, 2020
$BTC updateAnother good 4-hr close above supportPrice came down, retested and has bounced – will look for continuation to the upside
Still want to close above $11,900 on the daily pic.twitter.com/Dp1qsmvTFI
— Josh Rager 📈 (@Josh_Rager) August 12, 2020
As long as $BTC can hold $10,500 support, I think we continue to move up to test the 1.618 extension1.618 is at $13k and 2.618 is around $14,800
Yesterday’s drop was possibly price suppression and re-accumulation of longs and a bear trap on shorts to fuel the next push up pic.twitter.com/9UEs7T5Toe
— Jacob Canfield (@JacobCanfield) August 12, 2020
The US Dollar is “Ready to Break Down” – How This May Impact Bitcoin
https://u.today/warren-buffett-is-wrong-about-bitcoin-gold-banks-max-keiser
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Toncoin Plummets and Rebounds Amid Pavel Durov’s Arrest and Release
The cryptocurrency market witnessed significant turbulence last week following the arrest and subsequent release of Pavel Durov, the CEO of Telegram. Toncoin (TON), the cryptocurrency associated with Telegram, experienced dramatic price fluctuations in response to these events.
On August 24, 2024, Durov was arrested by French authorities at Le Bourget airport near Paris, facing charges related to data privacy and cryptocurrency regulation violations. The news of his arrest led to a sharp decline in Toncoin’s price, plummeting by approximately 25% to $5.24 as panic selling ensued among investors. This sudden drop highlighted the market’s sensitivity to legal issues involving key figures in the cryptocurrency space.
However, the situation took another turn when Durov was released on bail on August 29, 2024. The court set his bail at $5.56 million, and the news of his release provided a much-needed boost to Toncoin’s price. Following the announcement, Toncoin rebounded by over 6%, climbing to $5.59. This recovery, although partial, indicated a renewed confidence among investors, albeit tempered by ongoing uncertainties.
The arrest and release of Durov have underscored the volatility inherent in the cryptocurrency market, particularly for assets closely tied to influential individuals. While the immediate impact on Toncoin’s price was significant, the long-term effects will depend on the resolution of the legal issues facing Durov and the broader regulatory environment for cryptocurrencies.
As the market continues to react to these developments, investors are advised to remain cautious and stay informed about potential risks. The case of Toncoin serves as a reminder of the complexities and uncertainties that can influence the value of digital assets.
