{"id":272697,"date":"2020-08-31T17:28:13","date_gmt":"2020-08-31T21:28:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=272697"},"modified":"2021-08-07T05:33:59","modified_gmt":"2021-08-07T09:33:59","slug":"max-keiser-makes-new-speculation-based-on-warren-buffetts-japanese-play","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/max-keiser-makes-new-speculation-based-on-warren-buffetts-japanese-play","title":{"rendered":"Max Keiser Makes New Speculation Based on Warren Buffett\u2019s Japanese Play\u00a0"},"content":{"rendered":"
Warren Buffett\u2019s investment moves are the subject of constant speculation and interpretations.\u00a0<\/span>With the legendary investor currently re-strategizing his business portfolio, many now believe that cryptocurrencies could benefit significantly.<\/span><\/p>\n Max Keiser, a top cryptocurrency commentator, recently shared his opinion on Buffett’s business, explaining that it set up Bitcoin for some significant gains.<\/span><\/p>\n In a <\/span>forecast<\/span><\/a> published last week, Keiser explained that Buffett\u2019s Japanese play was a more significant pointer of the dollar\u2019s weakness. The analyst pointed out that this, along with Buffett\u2019s recent investment in gold, means that the Oracle of Omaha has seen the cracks in the dollar and is getting out.<\/span><\/p>\n Keiser was referring to Buffett\u2019s move to purchase a five percent stake in five of the country\u2019s largest trading houses, which would reportedly cost Berkshire Hathaway $6 billion.<\/span><\/p>\n Buffett\u2019s announcement came two days after the Federal Reserve said it would allow inflation to rise above the planned two percent cap. The announcement weighed heavily on the dollar, as<\/span> the <\/span>USD currency index (DXY) dropped to new depths on Monday.<\/span><\/p>\n To be fair, this isn\u2019t the first time that the investment guru would be making plays that suggest a fear for the worst. Berkshire lost $50 billion in the first quarter of the year following subpar performances from its top portfolio companies.<\/span><\/p>\n Recouping, the company <\/span>sold<\/span><\/a> up to $6.5 billion in airline stocks and liquidated his positions in some of the country\u2019s top restaurants and oil companies. All three sectors have been particularly hit by the coronavirus pandemic, with flights grounded and restaurants closed. The West Texas Intermediate (WTI) index also <\/span>plunged<\/span><\/a> into negative prices for the first time ever in May.<\/span><\/p>\n While Buffett appears to be making a practical move, Keiser sees it all as an opportunity to jump ship before the dollar crashes. He is now predicting that all of this will benefit Bitcoin in the long-run.<\/span><\/p>\n \u201cUSD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term,\u201d he said.<\/span><\/p>\n Keiser is the second notable crypto figure to make Bitcoin speculations off Buffett\u2019s moves. Last month, Jason Williams, the co-founder and partner at crypto hedge fund Morgan Creek Digital, <\/span>said<\/span><\/a> on Twitter that he believed Buffet could even purchase a top cryptocurrency soon enough.<\/span><\/p>\n The tweet came shortly after Berkshire <\/span>sold<\/span><\/a> a major stake in several top banks, including JPMorgan, Goldman Sachs, PNC, and Wells Fargo. The investment conglomerate then invested $565 million in Barrick Gold, a Canadian gold mining company whose stock has risen by as much as 45 percent this year.<\/span><\/p>\n Keiser also made comments at the time, explaining that the positive sentiment towards gold could benefit Bitcoin. His comments ringed particularly plausible, as Bitcoin and gold have been on a similar trend for months. <\/span>Data<\/span><\/a> from Skew Markets shows that the two have risen almost in tandem since April in line with investors\u2019 need for safe-haven assets.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The dollar is Weak, but Bitcoin Remains Strong<\/b><\/h2>\n
Everyone Watches Buffett<\/b><\/h2>\n