Michael Saylor, a well-known advocate for Bitcoin and the founder of the business intelligence giant MicroStrategy, recently took to Twitter to share his thoughts on the world’s flagship cryptocurrency and one of Bitcoin’s main critics, Warren Buffett, and his investment company Berkshire Hathaway. This tweet came in response to the first Berkshire Hathaway shareholder meeting that occurred earlier this week.
Warren Buffett, along with his right-hand man Charlie Munger, has been a vocal critic of Bitcoin for quite some time. Munger, who unfortunately passed away last year, was known for his strong stance against Bitcoin, once even referring to it as “rat poison squared.” Despite Buffett and Munger’s skepticism, Bitcoin has managed to surpass Berkshire Hathaway in terms of market capitalization, leaving the investment giant far behind.
MicroStrategy, on the other hand, has taken a different approach to Bitcoin. The company started buying BTC back in 2020 and has continued to accumulate more ever since. In April of this year, MicroStrategy purchased an additional 122 BTC for $7.8 million, bringing their total holdings to 214,400 BTC valued at $13.22 billion on their balance sheet. As a result of their investment in Bitcoin, MicroStrategy’s market capitalization now stands at an impressive $21.57 billion.
In his tweet, Michael Saylor expressed his belief that the future of legendary investment companies like Berkshire Hathaway lies in Bitcoin. He encouraged Warren Buffett to consider following MicroStrategy’s lead and investing in BTC. Saylor’s words reflect the growing influence and success of Bitcoin in the financial world, as more companies and institutional investors recognize the potential of the cryptocurrency.
Overall, Michael Saylor’s tweet serves as a reminder of the shifting dynamics in the investment landscape. While traditional critics like Warren Buffett and Charlie Munger continue to doubt the potential of Bitcoin, companies like MicroStrategy are reaping the benefits of embracing the cryptocurrency. As the market continues to evolve and new opportunities arise, it will be interesting to see if more traditional investment firms will follow suit and explore the world of digital assets.