Crypto Expert Bets $6.3M on Bitcoin Beating Warren Buffet’s Berkshire Hathaway
Cryptovest
Published Jul 13, 2018 02:05AM ET
Updated Jul 13, 2018 02:21AM ET
Crypto Expert Bets $6.3M on Bitcoin Beating Warren Buffet’s Berkshire Hathaway
An anonymous Australian crypto trader has placed an A$8.5 million ($6.3 million) bet on the value of one Bitcoin (BTC) exceeding the share price of Warren Buffet’s holding company Berkshire Hathaway (NYSE:BRKa) by December 31, 2023.
Announcing the pending deal on Twitter, Tom Waterhouse, the CEO of bookmaker William Hill Australia, said on Tuesday the bullish call was made by a “well-known crypto expert”. If proven right, the investor will net A$1.2 billion ($884 million).
“Have put him in touch with large syndicate — hope he can get set!” Waterhouse added.
Berkshire Hathaway’s share price currently stands at $288,000, over 46 times bigger than the value of one Bitcoin, presently trading at around $6,200. The flagship cryptocurrency has been dropping from a near $20,000 all-time high reached in December 2017.
The bet that BTC will fill the over $282,000 price gap, is not the first bullish prediction by market watchers, including tech investor bet his manhood that the cryptocurrency will reach $1 million per coin by 2020.
Notably, Warren Buffett is known in the cryptospace as a prominent Bitcoin critic. His first decision to avoid buying Bitcoin was back in 2013, when one BTC cost about $130. More recently, the billionaire investor stating in January:
“In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.”
Despite his distaste for cryptocurrencies, Buffett has shown interest in blockchain. In February, This article appeared first on Cryptovest
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Written By: Cryptovest
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