The post Warren Buffett’s Berkshire Hathaway Sells $100B in Apple Stock, Will He Consider Bitcoin? appeared on BitcoinEthereumNews.com.

As the market hits news records, Warren Buffett is currently building his cash balance at an unprecedented rate. Berkshire Hathway’s cash fortress swelled to a record $325.2 billion by the end of September, up from $276.9 billion in the second quarter, according to its earnings report released Saturday morning. It recently announced that they are freezing buybacks and holding $325 billion of cash. Cash Balance Skyrockets! Buffett’s cash balance has skyrocketed over the last 2 years. Interestingly, the cash balance is larger than the market cap of all but 27 public companies in the world. His cash pile is now larger than the market cap of Netflix and Bank of America. A large contributor to the hop in this cash balance was Berkshire’s sales of Apple stock. In Q3 2024 alone, Berkshire sold another $14.3 billion of AAPL bringing their position down to $69.9 billion. Warren Buffett has sold $100 billion of $AAPL over the last 2 quarters. And Interestingly, this comes at a time when the market is on an unprecedented run. The rally has also put the S&P 500 officially up +40% over the last 12 months. No buybacks Berkshire didn’t repurchase any company shares during the period amid the selling spree. Repurchase activity had already slowed down earlier in the year as Berkshire shares outperformed the broader market to hit record highs. Notably, Berkshire Hathaway repurchased $0 of stock in Q3 2024. This compares to $345 million in Q2 2023 and $2 billion in each of the 2 previous quarters. Berkshire has said that it will buy back stock when Buffett “believes that the repurchase price is below Berkshire’s intrinsic value.” Class A shares of Berkshire have gained 25% this year, outpacing the S&P 500′s 20.1% year-to-date return. The conglomerate crossed a $1 trillion market cap milestone…

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Filed under: News - @ November 3, 2024 9:17 am