Bitcoin Breaks $34.6k, Beating Berkshire Hathaway of Warren Buffett

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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A fortnight after finally breaking $20,000, Bitcoin didn’t take very long in 2021 to get off to a flying start, breaching through $34,600 today. By now, HODLers will be especially happy to learn that their favorite product is worth more in market capitalization than the company of a famous Bitcoin bear, Berkshire Hathaway’s own Warren Buffett.

In fact, only 9 companies now have a larger market capitalization than Bitcoin at this point.

With a market cap of some $642 billion, Bitcoin is now trailing Chinese retail giant Alibaba.

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Bitcoin bashers

There a few famous Bitcoin skeptics in fact, New York professor Nouriel Roubini is one, as well as New York Times columnist and famed author Paul Krugmann (he stated that the US dollar at least holds value because it is protected by men with guns. His exact words to explain why he’s a crypto critic were “fiat currencies have underlying value because men with guns say they do”).

Peter Schiff, the famous gold bull is another, as is Kevin O’Leary, star of Shark Tank, who believes regulators will be coming for Satoshi Nakamoto’s invention shortly.

Omaha oracle

But the most famous of them all of course if Warren Buffett, known as the Omaha Oracle to many. The man who led one the longest winning investment streaks in history is famous for having said that Bitcoin is “probably rat poison squared.”

In 2018, he stressed during an interview that buying Bitcoin isn’t investing, saying:

You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.

Last year Tron CEO Justin Sun tried to change his mind when the two met for lunch (after Justin had offered some 5 million dollar for a meeting with the CEO of Berkshire Hathaway), saying that he had offered the Omaha Oracle his first cryptocurrency wallet.

But Buffett couldn’t be budged. Perhaps 2021 might become the year he changes his mind.

hello.artmagination.com / Depositphotos.com