As an analyst with a background in finance and experience following the cryptocurrency market closely, I believe Michael Saylor’s tweet about Bitcoin and Warren Buffett’s Berkshire Hathaway is intriguing. It comes at a time when the world’s flagship cryptocurrency has surpassed Berkshire Hathaway in terms of market capitalization.
Michael Saylor, a well-known Bitcoin supporter and head of MicroStrategy, a leading business intelligence firm, recently posted on Twitter about Bitcoin and Warren Buffett, a notable Bitcoin critic, and his company Berkshire Hathaway.
At the inaugural Berkshire Hathaway shareholders meeting this week, a significant change occurred: the absence of Vice President Charles T. Munger. He passed away in November at the venerable age of 99.
Munger was formerly critical of Bitcoin, labeling it as “going nowhere.” Buffett has also derided it as “rat poison squared” in the past. However, last year, Bitcoin astounded the financial community by outpacing Berkshire Hathaway’s market capitalization and leaving it significantly behind.
As a financial analyst, I’d like to point out that at the present moment, the market capitalization of Buffett’s company is valued at 862.05 billion US dollars. On the other hand, Bitcoin boasts an impressive value of approximately 1.245 trillion US dollars.
Saylor expressed his hope that Bitcoin would become legendarily significant in the investment community, just as he has witnessed with the company.
#Bitcoin is hope for Berkshire Hathaway.
— Michael Saylor⚡️ (@saylor) May 3, 2024
In a recent tweet, Saylor implies that Warren Buffett might want to replicate MicroStrategy’s approach by consistently purchasing Bitcoin, starting from August 2020.
In April, I bought an additional 122 Bitcoins for $7.8 million. This brought my total holdings to 214,400 BTC, which are now valued at an impressive $13.22 billion according to our balance sheet. Bitcoin and the funds raised from shareholders have significantly boosted MicroStrategy’s market capitalization, which currently stands at a robust $21.57 billion.
As a researcher, I’ve observed an approximately 7% rebound in Bitcoin’s value over the past 24 hours. After touching $59,000, its price surged to reach the current level of $63,190 where it is being traded at present.
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2024-05-04 13:14