Williams Says Warren Buffet Will Invest in Bitcoin Soon
Given all the economic upheaval in the world today it’s understandable why the bias towards cryptocurrency by the financial industry is gradually changing. Although the change is slow, it is happening with lots of favorable news around Bitcoin and various cryptocurrency projects at the moment.
In the past, institutional investors will never come close to anything offering investments in cryptocurrency, but that is changing now. These days, many institutions are investing in Bitcoin and other cryptocurrencies through management firms and custodians.
But a lot of people in the cryptocurrency space still feel the battle is far from won. According to some industry experts, the battle will be declared won only when the biggest BTC critics who have the massive followings join the Bitcoin community and start using the cryptocurrency. That is when cryptocurrency and Bitcoin will be seen as widely acceptable, according to Jason A Williams.
Buffet Will Buy Bitcoin Soon
As a popular Morgan Creek partner, Jason Williams has been voicing out that one of the major critics of the Bitcoin, Warren Buffet, will soon start investing in Bitcoin. He pointed out that very soon Buffet will have no option than to look towards Bitcoin to take profit from it.
This statement is coming shortly after Berkshire Hathaway, Buffet’s firm, purchased 21 million shares of Barrick Gold. Based on the current market price, the 21 million shares are worth $563 Million. This type of investment is unprecedented, particularly from a value investor like Warren.
Gold vs Bitcoin
With this recent purchase, Warren may be making a statement regarding his feelings about the economy as well as the direction of his interest in the future. Also, Forbes recently reported that such an investment is a good thing for gold, which has already seen a steady rise in recent months.
However, Bitcoin is not doing badly in recent weeks as an investment haven. Like Gold, Bitcoin has remained less volatile while rising slowly. Both investment options have been doing great over the past few years and many investors think the crypto asset can rival Gold in the race for the position of a store of value.
Bitcoin Could Yield Better Than Gold
Financial experts like Mike Novogratz even went further by suggesting that investing in Bitcoin will yield better investment returns than gold.
Additionally, some are suggesting that Bitcoin’s price may push further due to Buffet’s interest in gold. But since Buffet has not stated any interest in Bitcoin, no one is sure whether he might consider investing in the the space largest digital asset soon.
Many inside and outside of the crypto space have tried to convince him of the value surrounding digital currencies. As we reported in a previous blog post, Tron’s Justin Sun was among those why have tried to convince him to invest in Bitcoin. Although Buffet has allegedly bought some coins in the past, he has not bought more nor has he used them.