Shareholders Will Demand Corporations Start Buying Bitcoin, Says Max Keiser

Heisenberg Capital founder and RT show host Max Keiser has revealed he believes shareholders will start demanding corporations start deploying their cash reserves into bitcoin as central banks’ response to the coronavirus-induced economic crisis could pose long-term risks for these firm’s treasuries.

Max Keiser revealed he believes idle cash reserves are a “melting ice cube,” as the U.S. dollar has been losing some of its value because of measures such as quantitative easing. In response, CFOs and CEOs will have to analyze their own corporate governance.

Keiser mentioned MicroStrategy CEO Michael Saylor in his tweet calling him a “board room revolutionary,” as the billion-dollar business intelligence firm has last month made a massive $250 million bet on BTC as part of its capital allocation strategy.

Earlier this month, CEO Michael Saylor revealed on social media the company invested another $175 million to buy 16,796 BTC. In total, the firm bought 38,250 BTC at an aggregate purchase price of $425 million.

Keiser’s comments came in response to a Twitter thread from Canada-based Middle Eastern restaurant chain Tahinis, which converted its entire cash reserves into bitcoin last month. In its thread, Tahnis questioned the CEOs of major corporations like Google, Microsoft, Disney, Apple, and Amazon as to why they do not allocate some of their reserves into bitcoin.

Notably, their cash reserves would be enough to more than double BTC’s current market cap, as google has over $120 billion in cash, while Amazon has $71 billion and Microsoft $136 billion. Bitcoin’s market cap, according to CryptoCompare data, is of little over $200 billion.

Tahinis also addressed Warren Buffet’s Berkshire Hathaway, which has around $146 billion in cash. Buffett is a well-known bitcoin critic who had also criticized gold in the past, but recently bought 21 million shares of the Barrick Gold corporation (GOLD), the world’s largest gold mining company.

Notably, reacting to that acquisition Max Keiser stated he believes Buffett will “start panic-buying Bitcoin at $50,000.”

Featured image via Unsplash.

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