Bitcoin has finally crossed the threshold of $4,000 as it currently trades at $4,169 with 24-hours gains of 4.65 percent. Since February 17th, Bitcoin has surged more than 21 percent as it moves from $3,400 to nearing the December high at $4,272. The leading cryptocurrency is managing the daily trading volume of $9.8 billion, really close to outdoing the February 19th’s $9.9 billion which was the last hit in May 2018.
This hike in Bitcoin price according to Max Keiser, a Bitcoin proponent and co-founder of crypto-focused VC, Heisenberg Capital could be the result of “short the bankers, long bitcoin” narrative as he took to Twitter to share that Warren Buffett, the chairman, and CEO of Berkshire Hathaway is a “fraud.”
Bitcoin Will Swallow up the World’s Over-Supply of Worthless Fiat Money
Yesterday, Warren Buffett issued an annual letter to shareholders accounting the loss of $25.4 billion in the fourth quarter of Berkshire Hathaway. This letter, Keiser says is proof that Buffett is a “fraud and a charlatan.” However, he says, Buffett’s loss could be Bitcoin’s gain.
RT reported Keier saying, “Buffett’s frauds are innumerable and date back decades,” when it comes to the corporate malpractice at Wells Fargo, which is partly owned by Berkshire.
In the annual report, under the “repurchases and reporting section,” it has been shared, “Earlier I mentioned that Berkshire will from time to time be repurchasing its own stock. Assuming that we buy at a discount to Berkshire’s intrinsic value – which certainly will be our intention – repurchases will benefit both those shareholders leaving the company and those who stay.”
Before the SEC gave green light to buyback in 1980, this practice was considered market manipulation.
“It’s pure fraud. Its sole purpose is to commit accounting fraud for the benefit of insiders,” added Keiser.
The report further slams gold calling it a poor investment choice, “The magical metal was no match for the American mettle.” To this Keiser had this to say,
“The real story is to put gold in context and understand that Buffett’s so-called success is entirely driven by a cozy relationship with Wall Street and the Fed that gives him virtually unlimited access to credit carrying zero percent interest.”
Keiser further commented on Buffett calling Bitcoin a rat poison last year, “The world is waking up. The Ponzi schemes of Buffett are being revealed and the masses are moving to hard money like bitcoin and gold.”
He doubles down on his Bitcoin price prediction at $100,000 and that the flagship cryptocurrency will swallow worthless the fiat money.
“I maintain my price prediction I first made on Keiser Report in 2011 when Bitcoin was $1. We will see $100,000 for Bitcoin, as it swallows up the world’s over-supply of worthless fiat money; marking the end of charlatans like Warren Buffett.”