Anonymous cryptocurrency enthusiast has placed a bet worth 8.5 million Australian dollars on bitcoin price growth to $288,000 by 2023.

A well-known expert in cryptocurrencies, who preferred not to publicly reveal his name, bets on bitcoin price will surpass the price of Warren Buffett's investment fund Berkshire Hathaway shares. One of the leading bookmakers of the world Tom Waterhouse told about the bet. Berkshire Hathaway shares are currently traded at $288,481, which is 45 fold higher than the current price of bitcoin.

 

Anonymous crypto-enthusiast made a bid of 8.5 million Australian dollars for the bitcoin price growth. If his prediction comes true, he will win 1.2 billion Australian dollars.

The bet against one of the largest investment holdings of the world is not accidental. Warren Buffett, Berkshire Hathaway Chairman, and Vice Chairman Charles Manger are well-known critics of cryptocurrencies industry.

“You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing,” said Buffett, to a Yahoo! Finance question about its attitude to bitcoin.

Buffett also added that, unlike real business or real estate, cryptocurrency does not produce anything. “You’re just hoping the next guy pays more.”

Charlie Manger also criticized cryptocurrencies, calling bitcoin “anti-social, stupid, immoral” and “combination of dementia and immorality.”