On June 3rd, due to a technical glitch at the New York Stock Exchange (NYSE), Berkshire Hathaway’s stock experienced a dramatic 99% drop. After NYSE suspended trading and fixed the issue, Berkshire’s stock price returned to normal.
However, while the claim of a 99% drop in Berkshire relative to the US dollar is false, the fact that its stock price has fallen nearly 99% relative to Bitcoin is true. Historical data shows that Berkshire’s stock price has fallen almost 99% relative to Bitcoin since 2015, from approximately 1 share being worth 1000 BTC to 9.15 BTC.
Interestingly, this phenomenon starkly contrasts with Berkshire’s owner Warren Buffett’s criticism of Bitcoin, whom he publicly referred to as “rat poison.”
Furthermore, according to simulations from Satoshi Nakamoto’s investment portfolio, even allocating just 1% of Berkshire’s existing portfolio to Bitcoin, which consists of major stocks like Apple, Bank of America, and American Express, could increase returns from 214% to 240% within a five-year adjusted timeframe.
Simultaneously, allocating 5% to 10% of the portfolio to Bitcoin could potentially bring astonishing returns of 328% to 410% for Buffett during the same period.
