Can Warren Buffett Buy All Bitcoin (BTC) in Circulation? Binance CEO Shares His Take

Can Warren Buffett Buy All Bitcoin (BTC) in Circulation? Binance CEO Shares His Take

By Tokenhell.com | Tokenhell | 3 May 2020


Berkshire Hathaway CEO Warren Buffett, the fourth richest person on the globe, is currently sitting on a $137 bln pile of cash, which means that he can gobble up Bitcoin’s entire circulating supply.

On the off chance that “the Oracle of Omaha” does decide to go all-in on crypto, Binance CEO Changpend Zhao says that he is unlikely to succeed.     

Cash can’t buy you everything

CZ explains that the 89-year-old billionaire would need all holders to sell him their existing coins at current prices. This seems extremely far-fetched since most of them expect significant price appreciation in the long-term.

Hence, Buffett will have to be content with a very small portion of BTC that he will manage to buy “at very high prices.”

CZ, whose net worth is estimated to be at $2.6 bln, claims that he only holds a minuscule amount of fiat, and he doesn’t plan to sell his crypto riches.       

Also Read: Tether Minted 1.58 billion USDT in April: Is Bitcoin Price Correlated With Tether Issuance?

How do you rate this article?

6


Tokenhell.com
Tokenhell.com

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.


Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.