- Warren Buffett recently made a massive investment in Barrick Gold, which led to a number of assumptions.
- Main one is that his interest in gold might lead to an investment in digital gold, which is what Bitcoin is.
- Even Morgan Creek partner, Jason Williams, believes that this might be the case, and quite soon, too.
The financial industry’s stance towards cryptocurrency is changing, and while the change may be slow, it is definitely happening. Only a few short years ago, institutional investors would not dare touch Bitcoin. These days, many of them are using it — through custodians and management firms, true, but they are still using it.
However, many assume that the battle will not be won until some of the largest BTC critics start using digital currencies. Warren Buffett is at the top of the list of such individuals, but even he may go for BTC soon. At least, that is what Jason A. Williams recently predicted.
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Jason Williams, a well-known Morgan Creek partner, recently stated that Bitcoin will be the next big thing for Warren Buffett to profit off of.
The statement comes after recent reports that Buffett’s firm, Berkshire Hathaway, bought 21 million shares of Barrick Gold. The purchased amount is worth $563 million, and such an investment is something never seen before, especially from investors such as Buffett, who are known as value investors.
Bitcoin vs gold
Another recent report by Forbes stated that the investment is quite good news for gold, which has already been doing rather well this year. And, since gold and Bitcoin have been major rivals for the position of a store of value for years, both are considered equally good investments.
Some, like Mike Novogratz, even suggested that BTC is a better investment than gold quite recently. After all, gold is physically tangible, while Bitcoin is seen as digital gold, so Buffett’s new interest in gold could easily lead to a Bitcoin investment.
Furthermore, some believe that Buffett’s interest in gold might be enough to push Bitcoin’s price up, and maybe even see it hit $50,000. Of course, there is no telling if Buffett might actually consider buying Bitcoin. Many have tried convincing him that digital currencies are a good investment, including TRON’s Justin Sun, who even gifted Buffett with digital currencies. And, while Buffett still allegedly owns his coins, he has not used them, nor has he bought more, as far as it is known.
