Warren Buffett: Athletes and celebrities are withdrawing money from US stocks to invest in bitcoin and cryptocurrencies.
Bill Gates: This is dangerous. What happens if institutional investors sell berkshire hathaway stock to buy
BTC.
Warren Buffett: You and I would lose mountains of wealth my friend.
Paul Krugman: May I propose rebranding US stocks to be more competitive with crypto. Holders of bitcoin like to feel they're fighting the power and sticking it to the man via buying and using crypto.
Paul Krugman: Perhaps we can fool them into believing that pouring their money into stocks, which benefits wallstreet, will actually hurt wallstreet in some way.
Paul Krugman: I know this guy called wallstreetbets who might be interested.
Warren Buffett: We must do something to prevent capital flight from US stocks from pouring into cryptocurrencies. Make it happen.
....
I'm not saying my analysis here is 100% accurate or amounts to more than a parody. Available data at this point is too preliminary at this point to draw hard conclusions.
But it could be worth thinking about.
