He sparked this debate a couple of hours ago, via his official Twitter handle. The tweet expectedly attracted tons of reactions from crypto enthusiasts and a host of crypto big guns, such as the CEO of Binance Changpeng Zhao (CZ), founder of Block.one Brendan Blumer, and others.
Warren Buffett Can Buy the Whole Bitcoin (BTC) in Circulation
Anthony Pompliano, a popular Bitcoin (BTC) supporter that is busy doing everything in his power for the adoption of the digital currency, said Warren Buffett has $137 billion in cash, which is almost enough to buy every BTC in the circulating supply.
At press time, BTC circulating supply is 18,358,362 BTC and its worth is relatively $168,218,977,946. According to Pompliano’s assertion, Buffett that presently holds $137 billion in cash, probably has more to cover the cost of the whole circulating supply of Bitcoin.
Anthony Pompliano shared this, “Warren Buffett has $137 billion in cash. That is almost enough to buy every Bitcoin in the circulating supply.”
Warren Buffett has $137 billion in cash.
That is almost enough to buy every Bitcoin in the circulating supply.
— Pomp 🌪 (@APompliano) May 2, 2020
CZ Binance and Brendan Blumer Respond
As aforementioned, the tweet attracted tons of responses. CZ Binance shared his opinion on Anthony Pompliano’s assertion. He said such could be impossible if the argument is mathematically considered.
He added that not every BTC holder is ready to sell at this current price, and the fact remains that Warren Buffett will only be able to buy a small portion of Bitcoin (BTC) at such a high price.
CZ responded:
“This is where math is deceiving. It’s only true if EVERY hodler is willing to sell at the current price, which is obviously not true, as there is no 21m BTC sell wall. Alas, Mr. Buffet will only be able to buy a small portion of bitcoins, and at very high prices at that.”
Pompliano concurred to CZ’s point of view:
“Completely agree. Just because he has enough cash, doesn’t mean that he could get the Bitcoin. I’m not selling mine and I figure you’re not either.”
Completely agree. Just because he has enough cash, doesn’t mean that he could get the Bitcoin.
I’m not selling mine and I figure you’re not either 👊🏼
— Pomp 🌪 (@APompliano) May 2, 2020
The founder of Block.one, Brendan Blumer also responded a bit in line with CZ’s opinion, but his concluding statement that has to do with most people exiting the system permanently had some responders wondering.
He wrote, “That’s assuming they would all sell, but most people have started exiting the system permanently.”
That’s assuming they would all sell, but most people have started exiting the system permanently.
— Brendan Blumer (@BrendanBlumer) May 2, 2020
Mind you, the CEO of Berkshire Hathaway, Warren Buffett is presently not positive about investment in Bitcoin (BTC), or any other cryptocurrency. However, he could still change his mind, maybe once in his lifetime.
