Warren Buffett made another major investment shift, reducing Berkshire Hathaway’s reliance on the US economy. The news followed the Federal Reserve’s policy announcement to “raise inflation”, which is seen as positive for Bitcoin, with some predicting that the price of cryptocurrency will soon reach an all-time high.
Buffett to reduce US dependence
Warren Buffett’s Berkshire Hathaway has invested more than $ 6 billion in five of Japan’s largest businesses. Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co. Reuters described:
The investment will help reduce Berkshire’s dependence on the U.S. economy, which has shrunk to a 73 – year high since the outbreak of the Govt-19 epidemic last quarter.
“However, Buffett’s choice in Japan has surprised market players as businesses have long been far from investor preferences,” the statement added. Tokyo-based Norihiro Fujido, Mitsubishi UFJ Morgan Stanley Securities’ chief investment strategist, pointed out that “buying for five companies is more like buying than choosing a few”.
Most of Berkshire’s operating businesses are American. The company owns more than 90 businesses and invests in dozens of companies, including American Express Co, Bank of America Corp, and Coca Cola Co. In addition, Berkshire owns about $ 125 billion in Apple Inc. (APPL). , Which is about 43% of its total portfolio.
Berkshire already made a surprising investment move two weeks ago Barrick invested in gold. Crypto Exchange Gemini founder Cameron Winglevos tweeted Sunday:
When Buffett buys shares in a gold mining company, you know he knows something about inflation. He will discover bitcoin in a decade. It took him until 2016 to find APPL, but now it is his biggest investment.
Many joined the discussion, pointing out that it would be difficult to find bitcoin in his lifetime because Buffett was already 90 years old. Overall, opinions are divided, with some believing that the Berkshire CEO will eventually buy Bitcoin, while others say he will never do so in his lifetime.
Don Tabiro, a global macro investor and co-founder of Gold Bullion International, tweeted last week: “Puppet is not ready to go into bitcoin yet.” Perhaps his younger representatives. P.R.K. [Berkshire Hathaway] As a public company, it is very difficult for them to take on many non-equity foreign positions. In 2-3 years, I think they can assign. “
Omaha’s Oracle has repeatedly said it never owns Bitcoin, calling cryptocurrency “rat poison square” because it has no value. He Gifted a bitcoin In February, Tron founder Justin Sun won $ 4.57 million at a charity auction during a dinner party. However, Buffett later said that all the cryptocurrencies that were gifted to him were immediately transferred to his charity.
Some are more optimistic about Buffett’s investment in Bitcoin. Popular TV personality and Bitcoin supporter Max Geiser, for example, believes Puppet will do Panic-buy Bitcoin Gold bug in K 50K Peter Schiff and senior investor Jim Rogers I will. He commented on Buffett’s new investments in non-US companies Tweeted Monday:
Buffett moved into Japan, with his gold investment, confirming his massive exit from the US dollar… Bitcoin – Gold – Silver All New ATH [all-time high] Nearby.
Many on social media believe that Buffett was expecting inflation to take action to undermine his company’s credibility in the American media. The Federal Reserve announced a major policy change last week.Increasing inflation. “Many policy experts expect Bitcoin to benefit from this policy change The weakness of the US dollar And the political uncertainty surrounding the US presidential election.
Niger Green, CEO of Dever Group, believes it Bitcoin will explode This year, news.Bitcoin.com reported. How did the founders of the Gemini Exchange respond to the central bank’s inflation policy change? [become] The only long-term protection against inflation is to increase the price of cryptocurrency Above K 500K.
Meanwhile, against inflation, many companies have already reduced their cash reserves and started moving their reserves to Bitcoin. Among them is the Nasdaq-listed Micro Strategy, which recently $ 250 million moved Into Bitcoin, and the moving Canadian restaurant chain Tahini All of its cash reserves within cryptocurrency.
Do you think Buffett will ever buy Bitcoin? Let us know in the comments section below.
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