An anonymous Australian crypto trader went big on Bitcoin, placing a USD $6.3 million bet that the value of the cryptocurrency would trounce the per share price of Warren Buffett’s Berkshire Hathaway by Dec. 31, 2023.
Per a report from Yahoo! Finance, “an anonymous punter made this AUD$8.5 million bet on the belief that bitcoin will be worth more than the price of Berkshire Hathaway Class A shares — which are currently trading at more than USD $280,000 above BTC — within half a decade.”
Related: Bitcoin: Still the Best Bet for Crypto Traders
The news came to light via Tom Waterhouse–CEO of sports and racing bookmaker William Hill Australia.
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
If the Australian crypto trader’s prognostications prove to be true, he or she stands to net USD $884 million. As of 2:45 p.m. Eastern Time, the price of one share of Berkshire Hathaway is $289,344.37–up $1,344.47 from the previous day’s trading session–an increase of 0.47%.
Meanwhile, Bitcoin has been trading within a range of just above $6,800 and over $6,100 the past seven days.