With its most recent high, Bitcoin achieved market capitalization of US$ 522 billion. This places digital currency as the 11th most valuable asset by market capitalization, surpassing Visa and even the famous JPMorgan Chase bank.
With Bitcoin still appreciating and seeking new levels Financial Peak of support without any apparent resistance, the price of the currency has been attracting investors‘ attention. Moreover, digital currency is giving a „taste of revenge“ to many supporters of cryptomime, especially „against“ those who doubted the digital asset. One of the Bitcoin detractors who now has to swallow his skepticism is legendary investor Warren Buffet.
Buffet is one of the world’s most respected investors, with a legion of followers and successful apprentices. But he has always been against Bitcoin and other cryptomites. In 2018, shortly after the tragic drop of 80% after a record price, Buffet said Bitcoin was Mouse Poison.
In 2018 Buffet said in an interview with CNBC:
„It’s probably rat poison (…) In terms of cryptomorphs in general, I can say with almost 100% certainty that they will have a bad ending. If I could buy 5 years of investments in all the cryptomoks I would, but they wouldn’t be worth a penny“.
But then, what has changed since 2018? Well, the answers are quite simple: Bitcoin has recovered from one of its biggest falls, surpassed records in 2017 and continues to appreciate. Now, the currency may exceed the market capitalisation of Berkshire Hathaway, the bank led by Warren Buffet.
Bitcoin about to be worth more than Warren Buffet’s bank
With its most recent high, Bitcoin achieved market capitalization of US$ 522 billion. This places Bitcoin as the 11th most valuable asset by market capitalization, surpassing Visa and even the famous JPMorgan Chase bank.
Just above Bitcoin and in 10th place is Berkshire Hathaway, the bank headed by Warren Buffet, with a $538 billion capitalisation. If Bitcoin reaches the $30,000 mark, it will have more than $550 billion in capitalization and will have surpassed the value of one of the most traditional companies in the financial market.
Consequently, this would also make Warren Buffet’s bank worth less than „rat poison,“ as he himself put it in the past.
Although we are experiencing a new record every day, Bitcoin shows no signs that it will fall. As shown by the most famous Stock-To-Flow (S2F) model, which put the current price above the expected price.
„Bitcoin price at $25.3k above the $24.9k value of the S2F model“.
It is worth mentioning that, according to PlanB, creator of the S2F model, Bitcoin will reach $100,000 by the end of 2021.