Warren Buffett has reportedly bought stakes in five Japanese trading companies. He made the move on his 90th birthday recently. He is moving out of the US dollars. As per Max Keiser, Warren Buffett has been getting out of the US dollars because it is quite weak. He also further stated that the Bitcoin will see all-time highest. Warren Buffett has reportedly acquired five per cent stakes in 5 of Japan trading houses. The names of all the trading houses are Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo Corp. He after this move became one of the biggest shareholders of these trading groups.
A tweet by Max Keiser, also address that, “Buffett’s move into Japan, along with his gold investment, confirms he’s getting out of USD bigly,”. The Japanese market was quite happy with the move of Buffett. The shares of the company went up from 6 % to evening 14% in one of the trading houses. Experts were quite surprised by the move of Warren Buffett. These trading houses have also not seen such a big investment in history. The economy of Japan is continually struggling. Many of the investors go there to buy discounted stocks. This move by Buffett has helped the trading houses to do better.
The stakes acquired by Warren Buffett from Japan totals to around 6 billion dollars. As per Warren, he has seen a potential in the five trading houses of Japan and is hoping to have great opportunities for mutual benefit in their future. The decision by Warren was addressed after the Federal Reserve made the inflation rise above its 2% target. Inflation has impacted the dollar heavily. The dollars acquired new depths on Monday. It has hit the lowest points in the last two years. However, Bitcoin is witnessing a price jump. It is currently at $12,500.