Warren Buffett Said 'Rat Poison' Bitcoin 'Creates Nothing,' But Now It's Bigger Than Berkshire Hathaway
Portfolio Pulse from Khyathi Dalal
Bitcoin's market cap has surpassed Berkshire Hathaway's, reaching $813.9 billion compared to Berkshire's $778.1 billion. Despite Warren Buffett and Charlie Munger's criticism of Bitcoin as 'rat poison,' the cryptocurrency has seen a 142% surge in the past year, while Berkshire Hathaway's stock gained 15%. Bitcoin is nearing a $1 trillion market cap, a level it previously reached in February 2021. However, it still trails behind Apple and Microsoft in market valuation. The recent increase in Bitcoin's price to over $40,000 resulted in the liquidation of over $184 million in short derivatives positions.
December 04, 2023 | 6:51 pm
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NEUTRAL IMPACT
Apple's market valuation remains significantly ahead of Bitcoin's, with no direct impact from Bitcoin's growth on Apple's market cap.
Apple's mention in the context of market cap comparison with Bitcoin does not pertain to its core business or stock performance. Therefore, the short-term impact on AAPL's stock is likely neutral.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 30
NEUTRAL IMPACT
Berkshire Hathaway's market cap has been surpassed by Bitcoin's, despite a 15% gain in Berkshire's stock over the past year.
While the news highlights Bitcoin's growth over Berkshire Hathaway, it does not directly impact Berkshire's operations or fundamentals. The comparison is more symbolic and may not have a significant short-term impact on BRK-B's stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70
NEUTRAL IMPACT
Microsoft's market cap continues to outpace Bitcoin's, and Bitcoin's recent market cap milestone does not directly affect Microsoft's valuation.
Similar to Apple, Microsoft's market cap comparison with Bitcoin is not directly related to its business operations or stock performance, suggesting a neutral short-term impact on MSFT's stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 30