Bitcoin Halving Impact Fades as Demand Takes Center Stage
According to reports, the Open Interest in Bitcoin is now 30 times higher than it was 11 days before the 2020 Bitcoin halving.
The US dollar has seen such a decline that Warren Buffett’s exiting it, which could project Bitcoin to see record gains. The host of the Keiser Report, Max Keiser believes that Bitcoin will see an all-time high as a result of the dwindling strength of the dollar.
The American broadcaster also believes that safe-haven assets, such as gold and silver will start outranking the US dollar as an investment opportunity. Buffett, as noted by Keiser, has an idea of the devastation that the future of the US dollar might face, hence his move to invest abroad.
In his latest forecast for macro, the RT host warned that safe havens would seriously outperform fiat. Buffett, he implied, knew what was coming.
Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin – Gold – Silver
Will all make new ATH in the near term
— Max Keiser (@maxkeiser) August 31, 2020
Buffett exits US dollar: Good news for diverse portfolios
As reported by Reuters, Buffett has bought a 5% stake in Japan’s biggest trading houses. Shifting towards international investment, the mogul has moved over $6 billion USD to diversify his portfolio.
Buffett commented on the move towards Japanese trading:
“The five major trading companies have many joint ventures throughout the world and are likely to have more I hope that in the future there may be opportunities of mutual benefit.”
While Buffett has not indicated any shift to break from his steadfast stance against Bitcoin investing, his move away from US dollar investment could spell good news for diverse portfolios across the board. Should his move have an influence on the market, it’s plausible that other investors will look to other stocks, assets, and opportunities to grow their income elsewhere. If this is the case, it’s possible that Bitcoin will see an uptick in the volume of investors looking to add assets safe from the decreasing value of the US dollar and inflation.