At the 2024 Berkshire Hathaway Annual Shareholders Meeting, regarded as the "Spring Festival Gala of the investment world," the company disclosed that it is currently stockpiling its largest cash reserve in history, reaching $189 billion in the first quarter. Michael Saylor, the CEO of MicroStrategy and a Bitcoin whale, suggested that the legendary investor Warren Buffett should consider investing in Bitcoin.
This year's meeting is the first held by Berkshire Hathaway without Charlie Munger, Buffett's long-term business partner and vice president, who passed away in 2023.
According to Berkshire Hathaway's first-quarter financial report, the company significantly reduced its Apple holdings by 13% and accumulated a cash reserve of $188.99 billion, setting a company record.
Buffett and Munger have consistently criticized Bitcoin, with Buffett once referring to the cryptocurrency as "rat poison squared."
Despite their criticisms, Bitcoin has made substantial strides in the financial world and surpassed Berkshire Hathaway's market value in 2023.
Currently, Berkshire Hathaway's market value is approximately $862.05 billion, while Bitcoin's market value is around $1.245 trillion.
Saylor's tweet hinted that Bitcoin could be a potential investment opportunity for Berkshire Hathaway.
As a US-listed whale, MicroStrategy, led by Saylor, has been steadily purchasing Bitcoin since August 2020.
In April, MicroStrategy bought an additional 122 Bitcoins for $7.8 million, bringing its total holdings to 214,400 Bitcoins, valued at about $13.22 billion.
Due to its Bitcoin investments and the funds raised from shareholders to purchase more Bitcoin, MicroStrategy now has a market value of $21.57 billion.
Since the weekend, Bitcoin has risen from $59,000 to above $64,000.