Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by DSingularity on Monday May 10, 2021 @08:09AM
(#27105068)
Doubt they are rich enough to corner the BTC market if that is what you are suggesting.
[ Parent
| on HN ]
Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by betterunix2 on Monday May 10, 2021 @08:14AM
(#27105114)
Berkshire Hathaway's market capitalization is more than $600B, so actually they could corner the market on it if they really wanted to (though it would probably become obvious that they were trying that long before it happened). They have no interest in Bitcoin because, from their previous comments on it, it produces nothing and they only invest in productive assets.
Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by kamyarg on Monday May 10, 2021 @08:15AM
(#27105119)
I think what the parent comment suggests is "Seal of approval" situation, similar thing that happened with Tesla buying bitcoin caused price surge. When a well known entity invests in crypto, trust in crypto goes up.
Berkshire buying bitcoin would definitely make me buy more bitcoin.