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Home News Industry News

Max Keiser against Warren Buffet for chiding Bitcoin

Muhaimin Olowoporoku by Muhaimin Olowoporoku
August 15, 2020
in Industry News
2 min read
Bitcoin reward Max Keiser Bitcoin market cap Bitcoin boom MicroStrategy Bitcoin Bitcoin boom Bitcoin (BTC) Crypto critic Bitcoin offers more Max Keiser Bitcoin Price
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Bitcoin proponent and TV anchor Max Keiser recently reacted to investor and Businessman Warren Buffet’s investment on Barrick Gold miner stocks at the expense of JP Morgan Chase Bank and Wells Fargo Bank.

Max Keiser reacted saying that the investor is wrong about gold, banks and Bitcoin.

Buffett:

Wrong about airlines

Wrong about banks

Wrong about Gold

What makes you think he isn’t also,

Wrong about #Bitcoin

— Max Keiser (@maxkeiser) August 14, 2020

Warren Buffet gold investment

The Berkshire Hathaway’s CEO moved his stakes from JP Morgan bank and Wells Fargo bank to bet them on the stock of Barrick gold, Blomberg reported.

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After several years of investment in these banks by Buffet and seeing them as good business as long as they don’t make major mistakes, he decided to reduce his financial presence from them.

Previously, there were reports that Robert Kiyosaki, author of popular Rich dad Poor dad slammed Warren Buffet for his old strategies of ignoring gold, stock market and Bitcoin.

The CEOs gradual investment into gold now is however kicked against by Max Keiser. The TV anchor believes Buffet is wrong about everything including gold, banks, airlines and Bitcoin. The CEO also called Bitcoin rat poison squared in the past.

Max Keiser Bitcoin prediction after Buffets investment

The TV anchor is of the opinion that after Buffet’s gold investment, the global investment business would stake 5 percent of its funds on gold.

Hence, Keiser predicts that at least 1 percent of the fund would be allotted to Bitcoin after MicroStrategy $250 million BTC investment).

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

Outside Max Keiser, the entire crypto community and Bitcoin investors are usually critical about banks saying Bitcoin would eventually phase them out.

The Winklevoss twins also recently said that gold has an infinite supply, unlike Bitcoin that has limited supply talking to Elon Musk as regards NASA plan to explore gold and other precious metals on asteroids while pitching Bitcoin to Dave Portnoy.

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
Tags: wells fargo
Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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