Michael Saylor thinks he can convince Warren Buffett to buy Bitcoin
The founder of MicroStrategy wrote in an X post on December 19, 2013: 'Bitcoin's days are numbered.'
The founder of MicroStrategy wrote in an X post on December 19, 2013: "Bitcoin's days are numbered. It seems only a matter of time before it meets the same fate as online gambling."
More than a decade later, there’s hardly a bigger ambassador for digital gold than him. With his company owning Michael Saylor at the moment of writing about 331,000 BTC, worth $30.6 billion. Since the start of BTC accumulation, MSTR’s share has surged by 3,000 percent. His success playbook has long been published by the bitcoin bull.
Investing legend Warren Buffett, however, wants nothing to do with it. According to Berkshire Hathaway’s founder, Bitcoin is a "gambling token" and has no intrinsic value. The 94-year-old compared the crypto market to a roulette wheel and slot machines.
Berkshire Hathaway’s stock has risen considerably less than Bitcoin over the past four years. After a look at price action over the last four years, Buffett may have to admit: a Bitcoin strategy can make sense. Whether Berkshire Hathaway will soon have BTC on its balance sheet is, however, doubtful. But Michael Saylor is optimistic: "If I could spend an hour alone with Warren Buffett in a quiet setting, he would say: Bitcoin is a good idea. Charlie would have liked it. We’ll buy some."
Currently Berkshire Hathaway holds about $325 billion in cash reserves, according to data from Companiesmarketcap. With only ten percent of these reserves, Warren Buffett would surpass MicroStrategy’s Bitcoin balance. But: "Bitcoin operates on a need-to-know principle," says Saylor. In other words: those who value the scarcity of digital gold invest, and vice versa.
