Published: July 12, 2018 2:43 p.m. ET Warren Buffett’s Berkshire Hathaway is trading at $287,100 a share. Bitcoin is barely clearing $6,000.
One intrepid crypto fan believes the gap between the two won’t last. In fact, he’s willing to bet millions of dollars on it.
According to this recent tweet from Tom Waterhouse, an Australian bookmaker, the deep-pocketed — and anonymous — punter is looking to bet 8.5 million Aussie dollars ($6.3 million) that bitcoin’s
price will topple Berkshire’s
by 2023. The wager would pay 1.2 billion Aussie dollars.
Not a bad payout, but the prospects look iffy at this point, even at those odds. While bitcoin peaked around $20,000 last year, it’s been a mess lately.
The price has been cut in half in the last six months alone, as you can see by this chart: Who knows, perhaps Buffett himself would be interested in taking that action. After all, he’s been clear on his bearish stance on bitcoin, calling it “a mirage” and “probably rat poison squared.” Or maybe his billionaire buddy, Bill Gates, would take it. Read more from marketwatch.com…
thumbnail courtesy of marketwatch.com