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The U.S. dollar is getting so weak that even Warren Buffett is getting out and Bitcoin (BTC) will see all-time highs, says Max Keiser.
In his latest forecast for macro, the RT host warned that safe havens would seriously outperform fiat. Buffett, he implied, knew what was coming.
“Buffett’s move into Japan, along with his gold investment, confirms he’s getting out of USD bigly,” Keiser wrote on Twitter on Monday.
“USD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term.”
He was referring to Buffett’s move into Japanese assets, taking a 5% stake in the country’s five biggest trading houses in a move totaling $6 billion, Reuters reported.
“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 publication quoted him saying.
The announcement came days after the Federal Reserve confirmed that it would let inflation rise above its 2% target as a temporary measure, something that weighed heavily on the dollar.
After volatility, the USD currency index (DXY) began plunging to new depths on Monday, bouncing off its lowest levels in two years. Late in July, when those levels first appeared, Bitcoin saw a price jump to $12,500.
As Cointelegraph reported, expectations remain that further dives in the DXY will produce similar effects.
Buffett, meanwhile is well known for his macro moves, even as he remains a steadfast Bitcoin skeptic.
Last week, the so-called “Buffett Indicator” warned about a stock market crash, even as large-cap equities continued their climbs higher.
Prior to that, Anthony Pompliano, co-founder of Morgan Creek Digital, publicly bet on Buffett eventually buying Bitcoin after he revealed his move into gold.
At the time, Keiser claimed that the gold entry alone would spark a run among investors, helping push BTC/USD to $50,000.
Perhaps Buffett’s most famous quip about Bitcoin is from 2018 when he referred to cryptocurrency as “rat poison squared.”
In other trending Bitcoin News today:
Federal Reserve’s Major Policy Shift to ‘Push Up Inflation’ Could Send Bitcoin Price to $500K
The U.S. Federal Reserve has announced a significant policy change to push up inflation. Bitcoin is set to greatly benefit from this policy change.
Not only the price of bitcoin could surge past $500K, but a number of companies have also begun moving their reserves into the cryptocurrency to hedge against higher inflation.
Bitcoiners view the Fed’s announcement as bullish. Following Powell’s speech, a number of people took to social media to remind others of the benefits bitcoin offers.
Mimesis Capital Louis Liu wrote, “Powell is friend of bitcoin,” while many others chimed in to just say “buy bitcoin.” Abra CEO Bill Barhydt commented: “Bitcoin doesn’t need the Fed to succeed but if they insist on throwing gasoline on the fire then so be it.”
“The Fed, under the leadership of Jerome Powell, continues to be Bitcoin’s biggest booster,” Gemini Exchange co-founder Tyler Winklevoss wrote. He made a case on Thursday for a $500K bitcoin as “ultimately the only long-term protection against inflation.”
He explained that the price of the cryptocurrency could appreciate 45 times from today’s price, meaning it could hit $500K per coin or even higher.
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Show Notes / News Resources:
– Max Keiser Bitcoin: https://bit.ly/2QJS1YF
– $500K BTC Price Prediction: https://bit.ly/32IdnLL
– Ethereum Price Analysis: https://bit.ly/2GjHHor
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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