No, billionaire Warren Buffett can’t buy the entire circulating supply of Bitcoin, but it’s not like he wants to touch crypto anyway
Berkshire Hathaway CEO Warren Buffett, the world’s fourth-richest person, is currently sitting on a heap of $ 137 billion, which means he can swallow up the entire supply of Bitcoin in circulation.
In case “The Oracle of Omaha” decides to do crypto, Binance CEO Changpend Zhao says it is unlikely to be successful.
Money can’t buy everything
CZ explains that the 89-year-old billionaire would need all owners to sell their existing coins to him at current prices. It sounds extremely far-fetched as most of them expect significant long-term price appreciation.
As a result, Buffett will have to settle for a very small portion of BTC which he will manage to buy “at very high prices”.
CZ, with an estimated net worth of $ 2.6 billion, says it has only a tiny amount of fiat, and it has no plans to sell its crypto wealth.
Buffett says crypto has no value
Of course, the fact that Buffett has stored a mountain of money does not mean that he intends to touch Bitcoin. After missing Google and Amazon, it continues to reject crypto.
The legendary investor called the cryptocurrency “rat poison squared” and “mirage”. In an interview with CNBC in 2020, he attacked crypto again, saying it was “of no value.”
Too many planes, too few orange parts
Given how shamelessly critical Buffett BTC is, it’s no surprise that Twitter crypto had a field day when Berkshire Hathaway announced an astounding loss of $ 50 billion in Q1 due to the COVID-19 crisis. that hit the actions of the airlines.
RT host Max Keizer recently tweeted that loading BTC before it reaches $ 100,000 is Buffett’s only way to save his face.
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