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Bitcoin pioneer, Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy BTC at $50,000.
Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with Bitcoin.
It seems that the U.S. dollar is really losing its power.
As a matter a fact, if it’s to believe crypto enthusiast and analyst Max Keiser, the U.S. dollar is getting so weak that even Warren Buffett is getting out and Bitcoin (BTC) will see all-time highs.
In his latest prediction for macro, Keiser cautioned that safe havens would seriously outperform fiat.
He also implied that Warren Buffett well knew that this was coming. Keiser wrote:
“Buffett’s move into Japan, along with his gold investment, confirms he’s getting out of USD bigly. USD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term.”
Bill Smead, chief investment officer at Smead Capital Management, which invests nearly 3% of its assets in Berkshire commented:
“The inflation cocktail is being mixed and Buffett is migrating his investment to where you can create value through inflation. These are companies that will make more money if the price of oil [or] any input goes up.”
Buffett, however, is famous for his so-called macro moves, even though he stays as a loyal BTC skeptic.
Last week, the so-called “Buffett Indicator” cautioned about a stock market crash, even as large-cap stocks went on rising.
Before that, Anthony Pompliano, co-founder of Morgan Creek Digital, publicly bet that Buffett will eventually decide to buy a Bitcoin after he revealed his move into gold.
At the time, Keiser claimed that the gold frenzy alone could boost investors, helping push the Bitcoin price to $50,000.
In February this year, Warren Buffett dismissed Bitcoin and other cryptocurrencies as worthless by saying:
“Cryptocurrencies basically have no value. They don’t produce anything. You can’t do anything with it except sell it to somebody else. But then that person’s got the problem.”
“I don’t own any cryptocurrency,” he said. “I never will,” and added that none of Berkshire’s businesses uses Bitcoin, and highlighted its frequent usage for illicit purposes.
“Bitcoin has been used to move around a fair amount of money illegally,” Buffett said going on joking on Bitcoin’s “economic contribution” to society might be reducing demand for suitcases.
In other trending Bitcoin News today:
Bitcoin is targeting $288K Stock-to-Flow Price ‘Like Clockwork’ – PlanB
Bitcoin (BTC) is heading to $288,000 and higher “like clockwork” as fiat currency woes mount and European inflation goes negative.
In a tweet on Sept. 1, PlanB, creator of the stock-to-flow (S2F) family of Bitcoin price models, said that BTC/USD had performed exactly as expected in August.
Listing the monthly closing price since May’s block subsidy halving, PlanB noted that each corresponded to the predictions of his S2F cross-asset model.
“Bitcoin… like clockwork,” he summarized. Bitcoin has now put in its fourth so-called “red dot” on the S2F chart since May.
According to performance after the previous two halvings, that leaves just months before a major price surge ensues.
According to S2FX, the current halving cycle, which like the others lasts four years, should produce a Bitcoin price focal point of $288,000.
The top, PlanB previously explained, could be more than double that.
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Show Notes / Resources:
Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin – Gold – Silver
Will all make new ATH in the near term
— Max Keiser (@maxkeiser) August 31, 2020
https://cointelegraph.com/news/bitcoin-is-targeting-288k-stock-to-flow-price-like-clockwork-planb