Michael Saylor, a prominent Bitcoin advocate and founder of business intelligence giant MicroStrategy, posted a tweet about the world’s flagship cryptocurrency and one of Bitcoin’s biggest critics, Warren Buffett and his investment giant Berkshire Hathaway.
This tweet went out after Berkshire Hathaway’s first shareholder meeting held earlier this week. For the first time since the company’s founding, the meeting took place without Buffett’s right-hand man and vice president, Charlie Munger. The latter died in November last year at the age of 99.
Munger was and Buffett remains a persistent critic of Bitcoin, arguing that BTC isn’t going anywhere. Buffett once even called it “rat poison squared.” However, last year, the leading cryptocurrency stunned the financial world by surpassing Berkshire Hathaway in terms of market capitalization and leaving it far behind.
At the time of writing, the market capitalization of the Buffett company is equal to 862.05 billion, while Bitcoin already boasts 1,245,020,193,429 dollars.
Saylor tweeted that the only hope he sees in the storied company in the investment world is Bitcoin.
#Bitcoin is the hope for Berkshire Hathaway.
— Michael Saylor⚡️ (@saylor) May 3, 2024
In his tweet, Saylor suggests that Warren Buffett should consider following in MicroStrategy’s footsteps. This company has been consistently purchasing BTC since August 2020.
In April, the company purchased another 122 BTC for $7.8 million. This increased its overall holdings to 214,400 BTC valued at a whopping $13.22 billion balance sheet. Thanks to Bitcoin and the money raised by shareholders to buy more of it, MicroStrategy’s market capitalization now stands at $21.57 billion.
Over the past 24 hours, Bitcoin has managed to stage a recovery of almost 7%, suddenly moving from the price of $59,000 to $63,190, where it is changing hands as of this writing.
