The Oracle of Omaha, Warren Buffett, has been recently grabbing headlines because of his enormous cash position. As of early November, Buffett’s Berkshire Hathaway is sitting on $128.2 billion in cash.
Analysts are quick to speculate. Some say the billionaire investor doesn’t see a lot of upside in the stock market considering that the S&P 500 has printed a fresh all-time high. Others believe he’s just waiting for the stock market to plunge so he can buy shares at dirt cheap prices.
Nevertheless, a prominent figure in the cryptocurrency industry believes that Buffett is not expecting a downturn soon. On the contrary, this person says Berkshire Hathaway’s chief executive is expecting for his cash stockpile to increase in value.