Q3 Earnings Alert! Plan early for this week’s stock reports with all key data in 1 placeSee list

Bitcoin ETF on Warren Buffett's Radar? Nate Geraci Says Bring It On

Published 2024/08/15, 15:00
Updated 2024/08/15, 19:00
© Reuters Bitcoin ETF on Warren Buffett\'s Radar? Nate Geraci Says Bring It On
BRKa
-
BTC/USD
-
ETH/USD
-

U.Today - Warren Buffet's Berkshire Hathaway (NYSE:BRKa) investment fund recently made headlines with changes to its portfolio. According to a recent regulatory filing, the firm reduced its position in tech giant Apple (NASDAQ:AAPL) by nearly 50%, Capital One Finance by 21.27% and Floor & Decor by 16.78%. These were the largest declines in Berkshire Hathaway's portfolio, while Sirius XM (NASDAQ:SIRI) and Chubb (NYSE:CB) Limited were the largest additions at 262.24% and 4.28%, respectively.

The company added new companies in the forms of Ulta Beauty (NASDAQ:ULTA) and HEICO Corp to the list. The total portfolio value of Warren Buffett's company stands at a staggering $279,969,065,000.

When the news broke, it naturally sparked discussion and debate. However, an interesting point of view was presented by Nate Geraci, who is the president of the ETF Store. Geraci said that he would like to see the crypto community's reaction if Warren Buffet bought Bitcoin or Ethereum ETFs. "Complete meltdown," Geraci assumed.

Buffet and Bitcoin

It would indeed be a surprise, as Warren Buffett has been quite vocal about his skepticism toward Bitcoin and crypto in general. He previously called it a "gambling token" with no real value and compared it to the Dutch tulip bubble of the 17th century.

On the other hand, while Buffett's skepticism toward BTC has been all over the news, it is worth noting that Berkshire Hathaway has invested in Nu Holdings (NYSE:NU), a Brazilian fintech company that provides cryptocurrency services.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.