- Michael Saylor, founder of MicroStrategy and Bitcoin advocate, suggests that Warren Buffett’s investment giant Berkshire Hathaway should consider investing in Bitcoin.
- This comes after Bitcoin surpassed Berkshire Hathaway in market capitalization, currently standing at $1,245,020,193,429 compared to Berkshire Hathaway’s $862.05 billion.
- MicroStrategy has steadily been buying Bitcoin since August 2020, with its holdings now valued at $13.22 billion.
Bitcoin advocate Michael Saylor suggests that Warren Buffett’s Berkshire Hathaway should consider investing in Bitcoin, following the cryptocurrency’s impressive market capitalization surge.
Bitcoin Surpasses Berkshire Hathaway in Market Capitalization
Bitcoin, the world’s leading cryptocurrency, has made a significant leap by surpassing Berkshire Hathaway in terms of market capitalization. As of writing, Bitcoin boasts a market cap of $1,245,020,193,429, leaving behind Berkshire Hathaway’s $862.05 billion. This development has caught the attention of Michael Saylor, a prominent Bitcoin advocate and founder of the MicroStrategy business intelligence giant, who suggests that the investment giant should consider investing in Bitcoin.
MicroStrategy’s Bitcoin Investment Strategy
MicroStrategy has been a steady buyer of Bitcoin since August 2020. In April, the company purchased an additional 122 BTC lump with $7.8 million, bringing its total holdings to 214,400 BTC valued at a staggering $13.22 billion. Thanks to its strategic Bitcoin investments and the funds raised from shareholders to buy more of it, MicroStrategy’s market capitalization now stands at $21.57 billion. Saylor believes that Berkshire Hathaway could benefit from a similar strategy.
Warren Buffett’s Stance on Bitcoin
Warren Buffett, Berkshire Hathaway’s CEO, has been a persistent critic of Bitcoin, once referring to it as “rat poison squared.” However, with Bitcoin’s recent market capitalization surpassing that of Berkshire Hathaway, Saylor suggests that Buffett should reconsider his stance and follow in the footsteps of MicroStrategy.
Conclusion
As Bitcoin continues to grow in market capitalization and acceptance, traditional investment giants like Berkshire Hathaway may need to reconsider their stance on the cryptocurrency. With MicroStrategy’s success in Bitcoin investment, it serves as a potential blueprint for other companies to follow. Whether Berkshire Hathaway will heed Saylor’s advice remains to be seen.
