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Berkshire Hathaway Vice Chairman Charlie Munger recently advocated for the U.S. to follow China's lead and ban it, characterizing Bitcoin as a gambling contract heavily skewed in favor of the house.With Berkshire Hathaway achieving its highest-ever annual profit last year, it is currently holding crypto assets.
Earlier, Berkshire reported higher operating earnings of $8.48 billion for the fourth quarter, up from $6.63 billion a year earlier. This increase was attributed to improved insurance underwriting earnings and investment income, supported by higher interest rates and milder weather conditions.
While cryptocurrencies do not align with Buffett's investment principles, their substantial gains, such as Bitcoin's 150% surge in 2023, may influence Berkshire's future investment decisions. Berkshire's investment in Nubank suggests a strategic move into the digital finance sector, despite personal reservations about crypto.a record $189 billion in Q1, 2024, as the conglomerate continued to divest stocks, including a significant portion of its Apple holdings.