Commentary on Social Media: John Deaton’s Insights
In a recent commentary on social media, John Deaton, a lawyer and advocate for XRP, has drawn intriguing parallels between Michael Saylor, co-founder of Strategy, and Warren Buffett, the esteemed CEO of Berkshire Hathaway. Deaton, who previously faced a challenging campaign against crypto critic Elizabeth Warren in last year’s Massachusetts Senate race, posits that Saylor is striving to achieve a level of influence within the Bitcoin realm akin to Buffett’s formidable presence in the American financial landscape.
Berkshire Hathaway’s Investment Strategy
Highlighting Berkshire Hathaway’s significant investment strategy, Deaton noted that the conglomerate currently possesses approximately 5% of the entire market for U.S. Treasury bills, a noteworthy revelation made by JPMorgan recently. With a staggering $314 billion reserve primarily invested in T-bills, Berkshire Hathaway ranks as the fourth largest global holder of these financial instruments, outpacing various international banking institutions.
This substantial liquidity could prove vital during unforeseen economic crises, often referred to as ‘black swan’ events.
Saylor’s Bitcoin Acquisition Efforts
In the meantime, Saylor’s firm, Strategy, has been ramping up its acquisition efforts, amassing nearly 570,000 Bitcoin to date. Deaton speculated that Saylor’s ambitions may include controlling around 5% of all Bitcoin in circulation, reflecting an aggressive pursuit to solidify his standing in the cryptocurrency market.
