Buffet - Bitcoin's Golden Ticket
The Oracle Of Omaha Is Busy Discrediting His Entire Career
He has been hailed the greatest investor of our time and even of all time and yet what we are busy watching unfold is rather sad. Buffet is going against principles and beliefs he has promoted and held to his entire career. As I described in "This Needs To Happen Fast For Bitcoin", Buffet's move into Barrick Gold is an indirect bet on the price of gold skyrocketing.
Warren has been laughing at gold for decades, declaring it as an absolutely foolish investment that would have aliens laughing, if they were to see humans digging it out of the ground! Have the hoards that gather every year to hear him speak followed his example and purchased Barrick shares? The most valuable asset in the world's system is influence. Once a person has influence, he or she can create their own self fulfilling prophecies. What this means in investment circles is, apart from extreme situations, someone with influence cannot make a bad investment. The masses that follow give life to even doomed decisions.
When you are unable to convince others to follow, you have to follow. Why did Buffet miss out on the entire internet boom, as well as the tech boom. Who buys Apple at all time highs? This is pretty much what Warren did! He joined the party when everybody was on their way home. Buffet's portfolio currently holds $117 billion worth of Apple shares. What does Warren Buffet know that the majority don't? Consider investing $117 billion into an already mature market and company in the midst of a global crisis?
Always A Step Behind
Warren's attacks against Bitcoin are somewhat reminiscent of his attacks against gold. One thing you can rely on, is his ability to miss innovation because if you are well connected, why take the risk. Risk belongs to the great, pioneering thought leaders who passionately go where the connected are too afraid to explore. Buffet is joining the world of gold as the world of gold is joining Bitcoin. Always a step behind!
Many gold investors are moving into Bitcoin, as it is the next logical move. Max Keiser is a gold bull, as is Mike Maloney. Not forgetting Robert Kiyosaki and Raol Pal! All of the above are heavily exposed to BTC and continue to accumulate more. As Buffet abandons his beliefs to join the gold community, in time he will abandon more "beliefs" to once again "catch up" and join the gold bugs who moved into BTC!
People are not as great as they may appear but they are way more connected than they would have you believe.