Bitcoin Outperforms Warren Buffett’s Berkshire: A Turning Point in Finance

Bitcoin, has recently achieved a significant milestone by surpassing the market capitalization of Berkshire Hathaway, the investment giant helmed by Warren Buffett. This development marks a major victory for Bitcoin over one of its most notable skeptics.

Anthony Pompliano, a prominent venture capitalist and partner at Morgan Creek Digital, announced this achievement via Twitter. Buffett, famously known as the “Oracle of Omaha,” has been a persistent critic of Bitcoin, labeling it as “rat poison squared.” Despite this, Justin Sun, founder of Tron, claims Buffett holds some BTC and TRX.

Pompliano, once a staunch Bitcoin advocate, has recently diversified his focus to include a variety of assets and investment strategies. He attributes this shift to Bitcoin’s performance, which, despite substantial growth, did not meet his predicted target of $100,000 by 2021, peaking instead at $69,000.

Bitcoin’s market cap now exceeds Berkshire Hathaway’s, with the former valued at approximately $813.54 billion, according to CoinMarketCap. This represents a roughly 1,000% increase over the past five years, compared to Berkshire’s 76% in the same period.

The crypto community has closely followed Buffett’s views on Bitcoin, especially after his harsh criticism. Charlie Munger, Buffett’s right-hand man and Berkshire Hathaway’s vice president, also shared this sentiment. Munger, who passed away recently at age 99, had consistently expressed his disdain for Bitcoin.

In a notable 2020 event, Justin Sun dined with Buffett, attempting to sway his opinion on cryptocurrencies. Sun gifted Buffett a smartphone loaded with Bitcoin and TRX, though Buffett later revealed he donated the phone, maintaining his stance of not owning any cryptocurrencies.

As of 2023, Warren Buffett’s net worth stands at $118.5 billion, ranking him fifth among the world’s wealthiest, trailing behind figures like Elon Musk and Jeff Bezos. His portfolio’s performance, while impressive, pales in comparison to the explosive growth witnessed in the cryptocurrency sector, particularly Bitcoin.