May 6, 2024 at 5:04 am | 2 min read |
Crypto Whales on the Rise – Are You?
New research shows the return of the biggest crypto buyers and this time? They can hold out the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next huge bull run for cryptocurrencies as we saw in 2020 and 2021. To find out exactly what’s going on and what to buy… Get access to Benzinga’s best crypto research and investments for just $1.
Tesla company (NASDAQ:TSLA) CEO Elon Musk He was still surprised Warren Buffett He revealed that Berkshire Hathaway Company (NYSE:BRK) (NYSE:BRK)’s cash pile stands at $189 billion.
What happened: Musk has been amazed at how much cash Berkshire Hathaway has on its books, after the Omaha-based investment group unloaded shares during the first quarter of 2024.
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According to Berkshire Hathaway filings, the company reduced its investments by $20 billion during the first three months of 2024 and bought $2.7 billion worth of shares during the period.
As a result, its net flows from this activity amounted to $17.3 billion, raising its cash balance to a record level of $189 billion.
Musk’s current fortune currently stands at $192 billion, making him the third richest person in the world, according to the Bloomberg Billionaires Index.
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This sparked a one-word reaction from Musk, who said: “Awesome.”
This is the fourth straight quarter of rise in Berkshire Hathaway’s cash pile.
Berkshire downsized Apple company Its holdings by a wide margin – its investment in the iPhone maker fell to $135.4 billion at the end of the first quarter of 2024, from $174.3 billion at the end of 2023.
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Musk asks Buffett to invest in Tesla
Musk also believes it is “obvious” that Buffett would invest in Tesla. This comes at a time when Tesla, owned by Musk, announced a negative cash flow of $2.2 billion during the first quarter of 2024.
“He should take a position at Tesla. It’s an obvious move.”
Although Tesla shares are up 25% since the company announced its first-quarter 2024 earnings, the electric vehicle manufacturer’s stock is still down 27% in 2024 so far.
Buffett was also asked about Tesla’s Full Self-Driving (FSD) technology lowering insurance rates, which impacts… Geckoone of Berkshire’s portfolio companies.
Although he did not comment directly on Tesla’s claims and capabilities, he said that reducing accidents is good for society, which is “what we’re looking for.”
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Read Next: Warren Buffett’s Frugal Lifestyle Tricks Saved Millions – Here are 5 Tips to Emulate in Your Daily Life
Images courtesy: Flickr
Crypto Whales on the Rise – Are You?
New research shows the return of the biggest crypto buyers and this time? They can hold out the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next huge bull run for cryptocurrencies as we saw in 2020 and 2021. To find out exactly what’s going on and what to buy… Get access to Benzinga’s best crypto research and investments for just $1.
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