Recently an Australian anonymous person, let’s identify him as a gambler, approached Thomas Robert Waterhouse, a famous bookkeeper, and requested to bet on the price of Bitcoin.
So the gambler says that he wants to bet $8,5 million AUD ($6,3 million) and believes that by December 31, 2023, the bitcoin price will be higher than the stock price of Warren Buffett's Berkshire Hathaway company (NYSE: BRK.A).
At the moment of writing the company’s stock price is around $289,365 USD while Bitcoin is trading against $6,229 USD.
In case the mysterious Australian’s prediction comes true, the gambler can earn $1,2 billion AUD.
WHY IS IT IMPORTANT?
1. As for the cost of the first cryptocurrency, experts now give different forecasts. For example, co-founder and head of Bitmex crypto exchange, Arthur Hayes believes that the price of bitcoin will grow significantly in 2018. According to him, the only approval of bitcoin-ETF from the SEC can lead to the fact that bitcoin can again reach $20,000 and then exceed $50,000.
2. Earlier this year, Wall Street analyst and co-founder of Fundstrat Global Advisors, Tom Lee, predicted that bitcoin would rise in price to $ 25,000 by the end of 2018. A few days ago, he confirmed his forecast, noting that the increase in the complexity of the cryptocurrency mining will contribute to growth.
Thomas Waterhouse announced this bet on his twitter account, which received a lot of replies as well.
Big Bet: Well known Crypto expert has just requested a bet of $8.5m AUD to win $1.2bn that a Bitcoin will exceed the price of a Berkshire Hathaway share (c.$280k) by 2023. Have put him in touch with large syndicate - hope he can get set! pic.twitter.com/C20AHzH2k9— Tom Waterhouse (@tomwaterhouse) July 11, 2018
In Crypto world, it is known that Bitcoin and Buffett don’t go well together. Billionaire called cryptocurrency a bubble first, but later he said that Bitcoin is “probably rat poison squared". Lastly, the legendary Oracle said cryptocurrency "will come to a bad ending" and “It's a mirage basically”.
The success of this bet is quite an unlikely situation and depends on Bitcoin to “moon” and jump some $280,000 in the next five years.
There are tons of predictions and speculations about what the price of Bitcoin will be. Hodlers who kept their coins hoping to see the growth in the price like it was witnessed in 2017 when Bitcoin soared and touched $20,000 levels.
Among them, of course, we need to mention an eccentric Crypto enthusiast. John McAfee’s prediction and the highest stake a man can put on the table. McAfee said that the Bitcoin will reach $1million per coin by 2020 or he will eat (ahem) his manhood.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD— John McAfee (@officialmcafee) November 29, 2017