Recently Warren Buffett’s Berkshire Hathaway made a significant investment worth $563 million in Barrick Gold. Such investment was not expected from Buffett, who is considered to be a value investor. This led to different assumptions in the financial markets, and many believe that soon enough, Warren Buffett may well invest in Bitcoin. The same thoughts are harbored by Jason Williams, Partner, Morgan Creek.
Warren Buffet May Well Purchase Bitcoin
Stance financial markets have towards Bitcoins, and other cryptocurrencies is changing at a fast rate. If we check industry perspective, even a few years ago, not many institutional investors were ready to buy Bitcoins. But, now the situation has changed, and many are using Bitcoins, although it is through management firms and custodians, it is a fact that they are using Bitcoins.
However, it is believed that greater exposure for cryptocurrencies such as Bitcoins can be achieved only when some of the biggest critics pay interest in and use cryptocurrencies. Buffett is considered to be leading this list of critics, and if we believe Jason Williams, this is going to change soon. Jason made this remark in a tweet he posted on August 15.
Bitcoin – The Digital Gold
In a recent report published in Forbes, this investment by Berkshire Hathaway is positive news for gold. For some years now, Bitcoin and gold have turned into rivals, trying to establish themselves as the leading store of value.
Compared to gold, which is physically tangible, Bitcoin is a better investment. Since Bitcoin is considered as digital gold, many believe that Buffett’s new found interest in gold will soon transform into investment in Bitcoin.
