Max Keiser: Bitcoin Price to Reach New High ‚Short Term‘ When Buffett Leaves USD

Von | 2. September 2020

The U.S. dollar is weakening so much that even Warren Buffett is leaving it and Bitcoin (BTC) will reach new historic highs, says Max Keiser.

In his latest macroeconomic forecast, the RT presenter warned that safe havens will seriously outperform the fiat. Buffett, he hinted, already knew what was coming.

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Keizer: Buffett „abandoning the USD“
„Buffett’s move to Japan, along with his investment in GOLD, confirms that he will leave the BIG DOLLAR,“ Keiser wrote on Twitter on Monday.

„The USD has a downward trend today, about to break key support. Bitcoin – Gold – Silver will all produce new ATH in the short term.

He was referring to Buffett’s move into Japanese assets, taking a 5% stake in the country’s five largest trading houses in a move that totals $6 billion, as reported by Reuters.

„The top five trading houses have many joint ventures around the world and are likely to have more. I hope there will be opportunities for mutual benefit in the future,“ the publication quoted.

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.

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After the volatility, the USD currency index (DXY) began to probe new depths on Monday, bouncing to its lowest levels in two years. In late July, when those levels first appeared, Bitcoin saw a price increase to $12,500.

As Cointelegraph reported, expectations remain that new DXY dives will produce similar effects.

An unlikely reference for Bitcoin
Meanwhile, Buffett is well known for his macro moves, even though he’s still a firm Bitcoin skeptic.

Last week, the so-called „Buffett Indicator“ warned of a fall in the stock market, even as large-cap stocks continued to rise.

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Before that, Anthony Pompliano, co-founder of Morgan Creek Digital, publicly bet that Buffett would finally buy Bitcoin after revealing moves toward gold.

At the time, Keizer claimed that the influx of gold alone would cause a race among investors, helping to push the price of the BTC/USD pair to $50,000.

Perhaps Buffett’s most famous joke about Immediate Edge was in 2018, when he referred to cryptomone currency as „rat poison squared.