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American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.

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Bitcoin’s returns in 10 years trump Berkshire Hathaway’s returns since 1964

One of the biggest struggles faced by Bitcoin and the rest of the cryptocurrency market has been to convince the mainstream ecosystem of its benefits and use-cases. One of the biggest naysayers of the cryptocurrency industry is Berkshire Hathaway CEO Warren Buffett, who once compared the world’s largest cryptocurrency to rat poison. In an ironical twist of fate, analysis suggests that Bitcoin actually beat Berkshire Hathaway stocks in terms of returns and growth over the years. Buffett has been quite vocal about his Bitcoin criticisms, going on to state, “It [Bitcoin] doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me. It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything.” According to calculations, Berkshire Hathaway’s stocks have gone up by 997,900 percent since Buffett’s takeover in 1964. Bitcoin managed to steamroll this record in its decade-long existence, with the king coin growing by a whopping 720 million percent in 10 years. Bitcoin’s price was first released to the public on October 5, 2009 by the New Liberty standard, with a price of $0.0007. Users of the cryptocurrency who had bought the cryptocurrency in 2009 are the ones who became multi-millionaires and billionaires when BTC spiked to its highest point in 2017. At the same time, Berkshire Hathaway was performing really well as a mainstream stock under Buffett’s watch. If one had invested $1000 when Buffett had taken over in 1964, it would have yielded returns of up to $10 million. Warren Buffett was in the news recently after Justin Sun, Chief Executive Officer of the Tron Foundation, won a chance to have lunch with the financial tycoon. The charity dinner will be attended by Sun and seven other members chosen by the Tron CEO. Justin Sun has revealed that the dinner will be a great opportunity to change Buffett’s mind on crypto. He had said, “I am pretty sure that Warren Buffett has been misled by the media.” The post Bitcoin’s returns in 10 years trump Berkshire Hathaway’s returns since 1964 appeared first on AMBCrypto.
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Bitcoin Has Dwarfed Warren Buffet’s Berkshire Hathaway in ROI

Warren Buffett’s Berkshire Hathaway has seen an impressive increase of around 997,900 percent in its stock price since Warren Buffett took control. Bitcoin, on the other hand, is up 720,000,000% in its short 10-year history since its first recorded price.  Berkshire Hathaway Up 997,900% Berkshire Hathaway, a multinational conglomerate holding company, the CEO of which is no other but popular investor and one of the richest men alive, Warren Buffett, has seen an increase of 997,900 percent in its stock price since the prominent investor took control of it back in 1964. The company is also well-known for the fact that it has been under the leadership of one of the most well-known investors, Warren Buffett. He is currently the CEO at Berkshire Hathaway. Forbes’ latest listicle of the richest men puts Buffett as the third wealthiest man with an estimated net worth of $82.5 billion. Bitcoin Up 720,000,000% in 10 Years Bitcoin, on the other hand, has only been around in the past decade. However, in this relatively short amount of time, the cryptocurrency has managed to increase by a whopping 720,000,000 percent since its first ever recorded price. Ironically, Buffett, being the prominent and well-known investor that he is, is a sworn Bitcoin-basher. In fact, Buffett has been particularly vocal on his stance on the matter, calling Bitcoin all sorts of things. Buffett said: It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me. It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything. If that’s not definitive enough, Buffett has also called the leading cryptocurrency “rat poison squared.” Going even further, Buffett’s Berkshire Hathaway invested $340 into an alleged Ponzi-type scheme according to Bloomberg. Federal investigators maintain that DC Solar, the company which received Buffett’s backing has used new investors’ money to pay back existing investors. So if Buffett, the infallible investment genius that everyone seems to believe he is, failed to recognize a Fed-investigated Ponzi-scheme, could it be possible that he’s also wrong about Bitcoin? Facts Speak For Themselves Regardless of whether Buffett likes it or not, this “rat poison” has massively outperformed the company he controls. It’s also worth noting that Berkshire Hathaway wholly owns prominent corporations such as Geico, Duracell, Long & Foster, and so forth. It also controls minority shares at American Express, Wells Fargo, and The Coca-Cola Company. Bitcoin does none of the above and isn’t even a company with any central authority. It’s simply a decentralized protocol for money that ensures no one breaks the rule. Bitcoin is an asset class of its own that has managed to gain 722 times more money to its investors compared to Berkshire Hathaway. And it only took it 10 years. So, in case anyone doubts John McAfee in putting a $1 million price target for Bitcoin, it’s perhaps worth considering all of the above. Sure, it may not happen by December 31st, 2020, but it’s certainly a possibility. Maybe Buffett should reconsider. Though, perhaps Justin Sun is the one (not) to make him change his mind. What do you think of Bitcoin hitting $1 million? Do you think it will happen? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Bitcoin Has Dwarfed Warren Buffet’s Berkshire Hathaway in ROI appeared first on Bitcoinist.com.
Bitcoinist

This Day In Market History: Warren Buffett Takes Control Of Berkshire Hathaway

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day 54 years ago, Warren Buffett took control of Berkshire Hathaway, Inc. (NYSE: BRK-A)(NYSE: BRK-B). Where The Market Was The Dow finished the day at 931.47. The S&P 500 traded at 89.66. Today, the Dow is trading at 25,828 and the S&P 500 is trading at 2,870. What Else Was Going On In The World? In 1965, construction of the St. Louis Gateway Arch was completed. The 1965 Voting ...Full story available on Benzinga.com
Benzinga

Berkshire Hathaway VC: “If You End Up Printing Too Much, You End Up Like Venezuela”

Berkshire Hathaway Vice Chairman Charlie Munger says political leaders in the US and Europe should not push central banks to cut interest rates. “I am so afraid of a democracy getting the idea that you can just print money to solve all problems. Eventually I know that will fail,” said Warren Buffett‘s longtime investing partner […]
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OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.
NullTX

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.
AMBCrypto

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
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David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
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Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
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