In what I would call a pretty stunning move, Warren Buffett’s Berkshire Hathaway sold billlions of dollars worth of Visa and Mastercard to invest in Nubank. This is stunning to me because if you watch any YouTube video of Buffett talking about bitcoin he is always against it, even at one point saying it will go to zero.
So is he buying Nubank just to make money on the upswing of bitcoin (right now at $44,096.70), or does he really believe that bitcoin is going to be as prominant as Visa and Mastercard? I guess only time will tell.
But since Birkshire is in the business of making money for it’s investors, even if he himself doesn’t believe in bitcoin, how could you NOT invest in it for the sake of your shareholders?
Imagine what could be done with the economy if Treasury were allowed to invest in bitcoin? Imagine if they were allowed to buy 22,727 bitcoin at today’s price with $1B, if the price of BTC gets to $100,000, the Treasury would have made a $1,272,700 profit. Put that towards the debt! What if they had been allowed to buy, like I did, when BTC was $1.00? Today they would be at a value of $44,096,000,000,000! That’s 44 TRILLION! That would have wiped out the debt completely!! Come on Congress, let the Treasury buy bitcoin to help us out!!
Here is a pretty good article that I found explaining why the Treasury has yet to invest in BTC: http://bit.ly/3GP0OQI
As each day passes though, BTC becomes more mainstream.
A Little Bit of This and That 