Keiser – Bitcoin Will Scale New Highs in Short-Term as Warren Buffett Moves Away From US Dollar
Max Keiser, the host of financial program Keiser Report on Russia Today, has opined that the US dollar has become extremely weak that has made even the billionaire investor and ‘Oracle of Omaha,’ Warren Buffett, to move out.
Keiser further stated that the scenario could act as a trigger for next Bitcoin (BTC) rally, taking it to new historical highs. While giving his latest forecast, Keiser cautioned that safe havens would firmly overshadow fiat. Buffettet, he stressed, is very well aware of what was looming.
Through a tweet, Keiser said “Buffett’s move into Japan, along with his GOLD investment, confirms he’s getting out of USD BIGLY. USD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term.”
Keiser basically pointed to Buffett’s shift to Japanese investment vehicles, acquiring a 5% stake in the nation’s top five trading firms by pouring in $6 billion.
Will all make new ATH in the near term
— Max Keiser (@maxkeiser) August 31, 2020
According to Reuters, Keiser further stated that “The five major trading companies have many joint ventures throughout the world and are likely to have more. I hope that in the future there may be opportunities of mutual benefit.”
The revelation happened days after the US Federal Reserve affirmed that it would facilitate inflation to increase about its 2% target as an intermediate action, causing considerable downward pressure on the greenback. Correspondingly, the US dollar index (DXY) hit a two year low. In the last week of July, a similar scenario was seen in which Bitcoin (BTC) surged to $12,500.
Analysts anticipate that decline in DXY will cause comparable moves again. Buffett, as everybody knows, is a proven expert to gauge macro developments, but continues to be a Bitcoin skeptic.
A week before, the popular “Buffett Indicator” cautioned about an impending correction in the stock market, despite a rally by large-cap stocks.
Earlier to that, Anthony Pompliano, who co-founded Morgan Creek Digital, had openly stated that Buffett would ultimately start purchasing Bitcoin. The speculative statement came up after Buffett revealed his entry into precious metal.
Keiser, pointing out entry of Buffett into gold, has stated that it would alone trigger a rally in Bitcoin and push the BTC/USD pair to $50,000.
Arguably, the most severe criticism on Bitcoin was made by Buffett in 2018 when he compared the numero uno crypto to “rat poison squared.”