Crypto:
30253
Bitcoin:
$66.112
% 0.10
BTC Dominance:
%54.0
% 0.46
Market Cap:
$2.41 T
% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.112
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Bitcoin Flips Berkshire Hathaway: Saylor Sees Opportunity

Berkshire Hathaway Bitcoin Warren Buffet

Michael Saylor, who founded the business analytics company MicroStrategy and is a vocal proponent of Bitcoin, recently tweeted about Warren Buffett, who has been one of Bitcoin’s harshest opponents, and Berkshire Hathaway.

This tweet was released following this week’s inaugural Berkshire Hathaway shareholders meeting. Charlie Munger, who has been Buffett’s right-hand man and vice president since the company’s inception, was absent from the meeting for the first time. The latter one was 99 years old when they died in November.

Both Munger and Buffett have been vocal in their criticism of Bitcoin, with the former arguing that the cryptocurrency has no future. Even Buffett used the term “rat poison squared” to describe it once. Nonetheless, the principal cryptocurrency shocked the financial community last year when its market valuation soared over that of Berkshire Hathaway.

Bitcoin currently has a market worth of $1,245,020,193,429, compared to 862.05 billion for Buffett Company.

According to Saylor’s tweet, Bitcoin is the only hope that the investment world has for the renowned corporation.

“At Berkshire Hathaway, we believe in Bitcoin.” On May 3, 2024, Michael Saylor tweeted as @saylor.

According to Saylor’s tweet, Warren Buffett might learn a thing or two from MicroStrategy. Since August of 2020, this business has been purchasing Bitcoin at a steady rate.

With a total investment of $7.8 million, the business acquired 122 bitcoin in April. This brought its total Bitcoin holdings up to 214,400, which is worth an astounding $13.22 billion according to the balance sheet. The market valuation of MicroStrategy is currently $21.57 billion, which is largely attributable to Bitcoin and the funds raised from shareholders to purchase additional Bitcoin.

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After unexpectedly rising from $59,000 to $63,190, where it is trading hands as of this writing, Bitcoin has staged a recovery of about 7% during the last 24 hours.

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