Warren Buffett ‘Destroying $3B A Month’ Of Berkshire Capital By Not Investing In Bitcoin, Says MicroStrategy’s Michael Saylor
MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor said that Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK) was destroying billions of dollars in capital by not utilizing the huge hordes of cash at their disposal to invest in Bitcoin (CRYPTO: BTC).
What Happened: During a podcast with Patrick Bet-David, Saylor drew attention to the company’s massive $325 billion cash stockpile.
“That $320 billion.. that is destroying $32 billion a year. They are destroying $3 billion a month in capital because they’re generating a 3% after-tax yield at best, and the cost of capital is 15%. So take 12% negative real yield,” Saylor said.
Having said that, Saylor expressed confidence in getting Warren Buffett to invest in Bitcoin (CRYPTO: BTC).
“I’d want to bet you that if I had an hour alone with Buffett in a calm environment, I’d walk out and he would say this Bitcoin thing is a pretty good idea.”
Saylor was optimistic that Buffett would …
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