Warren Buffett Buying Gold May Push Bitcoin to $50K, Investors Say

Cointelegraph

Published Aug 15, 2020 08:07AM ET

Updated Aug 15, 2020 09:40AM ET

Berkshire Hathaway (NYSE:BRKa), the $503 billion conglomerate led by Warren Buffett, sold Goldman Sachs (NYSE:GS) for a Canadian gold company Barrick Gold (NYSE:GOLD). Max Keiser, the founder of Heisenberg Capital and an early Bitcoin investor, says it could help buoy BTC to $50,000.

The quarterly shareholder filing of Berkshire Hathaway shows Buffett trimmed his position on most major banks, Fortune reported on Aug. 15. The firm sold a substantially large portion of its shares in JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and PNG.

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