Major corporations have already started buying Bitcoin. Everyone in the space must have heard about MicroStrategy and Square. Berkshire Hathaway invested half a billion dollars in Barrick Gold, a gold mining company, earlier this year. Warren Buffett invested in gold for the first time after decades of calling gold an inferior asset (which it historically has been compared to stocks).
Warren Buffett has infamously called Bitcoin "rat poison squared". If it transpires during Buffett's lifetime (I'd really like him to live long and be around when/if that happens) that the dollar is ousted as the global reserve currency by Bitcoin and BTC rockets, do you think Berkshire Hathaway will at some point start panic buying Bitcoin under Warren Buffett's direction? :)
Good question! I think never.
First, buying the miner, is not exactly 100% the same as buying the commodity.
Second, considering the size (smallish) of the investment, it was most likely either of his lieutenants Ted Weschler or Todd Combs that pulled the trigger.
The same reason why Warren never bought gold (as he has explained for decades) is the same reason he has not and will not buy BTC.. Simply it does nothing. Gold doesnt have employees nor does it produce a profit.
Here is a good article on it:
https://www.forbes.com/sites/robertberger/2020/08/28/warren-buffetts-gold/#6a5e6e056a63
That question was a bit of a joke, really.
But seriously, imagine what happens when, and it's a question of when and not if, the world begins to question the dollar's status as the world's reserve currency. The US economy and its share of world trade has been steadily decreasing for a long time. Interest rates area already abnormally low in all developed economies. If fiat currencies and ultimately the dollar are in for a crisis eventually, then a neutral and decentralized new reserve currency might emerge. In my opinion, Bitcoin a candidate for that. Wouldn't it make sense to allocate some small portion of one's portfolio in Bitcoin? I saw a paper somewhere that showed it was the rational course of action.
Well Paul Tudor Jones thinks so...
https://www.cnbc.com/video/2020/10/22/paul-tudor-jones-on-bitcoin-its-like-investing-early-in-a-tech-company.html?&qsearchterm=paul%20tudor
Eventually, every speculator will.
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Maybe he will go into Bitcoin mining.
I'm sure he's already deep in the crypto mining business. As oil companies here in Alberta investing in solar and wind power.
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Crypto mining is safe in the sense that if crypto fails and mining becomes unprofitable, the miner is still left with the computers. The mining business is like selling shovels to gold diggers.
Buffett will buy when it's a bit late already, maybe at 100K if we get there. Who knows. It better happen fast when we look at his great age.
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At ~ $77K. Or higher
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That's a reasonable guess as there would be a deluge of corporate reserve money going into BTC at that point. Or who knows maybe he will go into mining crypto.