Berkshire Hathaway CEO Warren Buffett, the world’s fourth richest man, currently stands at $ 137 billion, which means he can easily buy all the bitcoins he bought.
If Warren Buffett still decides to join the crypto space, Binance’s CEO, Changpen ‘CZ’ Zhao, says he is unlikely to succeed.
Cash can’t buy you everything
CZ explains that the 89-year-old billionaire will need all holders to sell him existing coins at current prices. This seems unattainable, as most of them expect a significant price increase in the long run.
Therefore, Buffett will have to settle for a very small fraction of BTC, which he will be able to buy “at very high prices”.
CZ, whose net worth is estimated at $ 2.6 billion, claims it only holds a small amount of fiat currency and has no plans to sell its cryptocurrencies.
Buffett says cryptocurrencies have no value
Of course, the fact that Buffett has accumulated a ‘mountain’ of fiat money does not mean that he intends to touch Bitcoin . After missing out on the rise of Google and Amazon, it continues to reject cryptocurrencies.
The legendary investor once called the cryptocurrency “rat poison” and “mirage”. During his interview with CNBC in 2020, he again attacked cryptocurrencies, saying they were of no value.
Too many planes, too few orange coins
Considering how outrageous Buffett criticized BTC, it is no surprise that the crypto community on Twitter rejoiced when Berkshire Hathaway announced a staggering $ 50 billion loss in Q1 due to the COVID-19 crisis that plunged the shares of the airlines.
RT presenter Max Kaiser recently shared on Twitter that accumulating BTC before reaching $ 100,000 is Buffet’s only way to save.