Berkshire Hathaway Increases Stake In VeriSign With $28.55 Million Investment

According to PANews, recent filings with the U.S. Securities and Exchange Commission reveal that Berkshire Hathaway, led by Warren Buffett, has acquired an additional $28.55 million worth of VeriSign shares over three trading days ending December 24. This purchase amounts to 143,424 shares, bringing Berkshire's total ownership to 13.7% of VeriSign's outstanding stock, valued at nearly $2.7 billion. Buffett's interest in VeriSign may be attributed to its high profitability metrics among S&P 500 companies. VeriSign has previously secured a patent from the United States Patent and Trademark Office for applying blockchain technology to domain names. The company, which controls the ".com" and ".net" domains, holds a patent titled "Domain Name Blockchain User Address." This patent outlines the primary benefits and technical advantages of using DNS domain names within a blockchain network. It supports the use of domain names purchased in a traditional DNS environment within a blockchain setting. VeriSign explains that this technology allows registrants to convert traditional domain names into "blockchain user addresses," facilitating interaction with other network participants.