Jamie Dimon, President and CEO of JPMorgan Chase, and Warren Buffett, an American investor and major tycoon, are two billionaires whose views on Bitcoin are largely bearish.
The two men, whose knowledge of finance contributed greatly to their wealth, said Bitcoin is not going to remain in long-term use.
But Anthony Pompliano of Morgan Creek Digital, a big proponent of Bitcoin, who constantly updates his followers with his bullish analysis of the core asset, is convinced that both Buffett and Dimon will change their minds in the future.
Here is what he said in his recent tweet: “I can't wait for Jamie Dimon and Warren Buffett to buy Bitcoin for $ 250.000”. And the well-known analyst even thinks that this moment will come very soon, because he thinks that the above price could be reached between the end of this year and next year.
The predictions for 2020
According to the Stock-to-Flow model, bitcoin will score one this year quotation of at least $ 100.000. The average price that will precede this is estimated at $ 288.000, according to PlanB, the creator of the S2F model.
As Pompliano said, the rise in the price of Bitcoin to the above level could actually force both investors to buy the asset, in the same way that other billionaires have withdrawn their bearish positions on Bitcoin.
However, it's also possible that both billionaires are sticking to their current beliefs, as both of their critiques of the asset focus more on Bitcoin's ability to survive for an extended period of time than on the asset's ability to reach new levels of value. price.
Many have changed their minds, will they too?
In 2020, Dimon said Bitcoin "just wasn't my cup of tea". But in 2017, his claims were even tougher. In addition to calling Bitcoin a "fraud ... worse than tulip bulbs" and adding that Bitcoin "won't work", he was determined to fire JPMorgan traders if they took part in trading the asset, as "It's against the our rules, and they are stupid, and both are dangerous ”.
Even though it's been three years and JPMorgan now allows investors to allocate 1% of their portfolio in Bitcoin, Dimon has yet to warm up on the asset.
Like Dimon, Warren Buffett is equally skeptical of Bitcoin. Last year, the billionaire told CNBC, “I don't have Bitcoin. I don't own any cryptocurrency, it will never happen ".
Even Charlie Munger, his longtime trading partner, recently advised investors not to buy Bitcoin. “I don't think bitcoin will end up becoming the main medium of exchange around the world. It is too volatile to serve well as a medium of exchange ”. He said.
Meanwhile, across the river, billionaire Paul Tudor, Howard Marks and the richest man in the world Elon Musk have already embraced the asset with major investments.