news 
Saylor says Warren Buffett’s Berkshire Hathaway is Bitcoin of 20th century
Michael Saylor, a prominent Bitcoin proponent and CEO of MicroStrategy, has made a bold comparison between Warren Buffett’s conglomerate Berkshire Hathaway and the world’s most popular cryptocurrency. In a recent statement, Saylor likened Berkshire Hathaway to Bitcoin in the 20th century.
Buffett’s criticism of Bitcoin
Notably, this comparison comes as a stark contrast to Buffett’s long-standing skepticism towards Bitcoin. The Oracle of Omaha has repeatedly expressed his disdain for digital assets, famously dubbing it “rat poison squared.” Despite this stance, Berkshire Hathaway’s stock has significantly underperformed Bitcoin in percentage terms since 2020.
Berkshire Hathaway’s indirect exposure to crypto
Interestingly, while Buffett himself does not invest directly in cryptocurrency, Berkshire Hathaway has gained indirect exposure to the digital asset space through its portfolio companies. The conglomerate holds a significant stake in Bank of America, which has invested in multiple spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT). Moreover, Berkshire has also invested over $1 billion in Nu Holdings, a Brazilian digital bank that operates a crypto platform and offers various crypto services.
Berkshire’s investment strategy
Notably, Buffett’s investment approach at Berkshire Hathaway differs significantly from the growth potential of cryptocurrencies like Bitcoin. During his recent meeting with shareholders, Buffett highlighted Berkshire’s opportunistic investment strategy, stating that the company would spend up to $100 billion under the right conditions.
Berkshire’s avoidance of collapsing currencies
However, Buffett emphasized the importance of avoiding assets tied to collapsing currencies during the same meeting. He expressed concerns over the potential economic issues in the U.S., which could lead Berkshire to diversify into other currencies if necessary.
Saylor’s comparison and implications
In light of Saylor’s comments comparing Berkshire Hathaway to Bitcoin in the 20th century, it is intriguing to consider the parallel between Buffett’s skepticism towards cryptocurrency and his avoidance of collapsing currencies.
Source: https://cryptobriefing.com/warren-buffett-succession-at-berkshire/
