Benzinga - Bitcoin (CRYPTO: BTC) advocate Max Keiser on Sunday said that purchasing BTC in the present market is similar to acquiring shares of Warren Buffet’s giant, Berkshire Hathaway, back in its earlier days.
What Happened: Keiser said on X, "Buying #Bitcoin today is like buying Warren Buffett's Berkshire Hathaway stock when it was $1,500 a share. (It's now $628,000)."
Buying #Bitcoin today is like buying Warren Buffett's Berkshire Hathaway stock when it was $1,500 a share. (It's now $628,000)— Max Keiser (@maxkeiser) February 25, 2024
The media personality likened the investment in Bitcoin to an opportunity akin to purchasing shares of Berkshire Hathaway at $1,500 each—a price recorded back on March 19, 1985. Since that time, Berkshire Hathaway's Class A stock value has escalated to $628,930 per share.
According to Keiser, Bitcoin, with its current valuation at $51,465, could potentially grow by a factor of 41,828%. Should Bitcoin undergo such a meteoric rise, each coin could potentially be worth $21,586,534.
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Why It Matters: With a limited supply cap set at 21 million coins, such a scenario would see Bitcoin’s total market value skyrocket to a figure exceeding $454 trillion.
It should be acknowledged that the notion of Bitcoin reaching a market capitalization of over $454 trillion is an extremely ambitious forecast. For context, this figure would surpass the market capitalization of major corporations.
For reference, Apple Inc. currently holds a market cap of $2.82 trillion, making it one of the world’s most valuable companies, followed by Microsoft, with a market cap valued at $2 trillion, and Alphabet and Amazon, with their respective market caps of $1.77 trillion and $1.60 trillion.
Last week, Keiser warned of a market disaster similar to the 1987 crash. In a tweet he said, “1987-style crash coming. Bitcoin, the ultimate safe haven, will soar past $500,000. Gold will continue getting demonetized by Bitcoin.”
Price Action: At the time of writing, BTC was trading at $51,160. per token, down 0.67% in the last 24 hours, according to data from Benzinga Pro.
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