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Billionaire investor Warren Buffett, known as the “Oracle of Omaha,” has famously expressed his dislike for Bitcoin, as he referred to it as “rat poison squared” in 2018. Buffett emphasized that Bitcoin lacks intrinsic value, likening its allure to playing the roulette wheel. Berkshire Hathaway Vice Chairman Charlie Munger recently advocated for the U.S. to follow China’s lead and ban it, characterizing Bitcoin as a gambling contract heavily skewed in favor of the house. Related With Berkshire Hathaway achieving its highest-ever annual profit last year, it is currently holding crypto assets. Does this signify a big change in how institutional investors perceive digital assets? As noted by cryptocurrency advocate Anthony Scaramucci: I know Charlie Munger hated crypto. Warren Buffett never bought Microsoft even though he played bridge with Bill Gates every month.  And now he owns Apple. Wouldn’t be be ironic if he winds up buying #bitcoin as a hedge for his cash ? Never say never. — Anthony Scaramucci (@Scaramucci) February 24, 2024 Value investing Berkshire Hathaway, led by Warren Buffett, stands out as one of the largest S&P 500 stocks by market value, positioning it close to the tech titans in terms of market capitalization. Related Despite Berkshire’s impressive stock gains, its diverse business portfolio and strong insurance performance have garnered positive sentiment from analysts. Sector  2023 (in millions) 2022 Insurance-underwriting $5,428 $(30) Insurance-investment income $9,567   $6,484 Railroad $5,087   $5,946 Utilities and energy $2,331   $3,904 Other businesses and miscellaneous items   $14,937  $14,549 Operating earnings $37,350 $30,853 However, Berkshire’s substantial size presents challenges in pursuing significant acquisitions, as Buffett acknowledged in his letter to shareholders. The conglomerate’s record cash hoard reflects its struggle to find compelling deals at favorable valuations. Buffett tempered expectations, indicating that Berkshire may not deliver “eye-popping performance” in the near term.…

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Filed under: News - @ May 19, 2024 10:26 pm