Anthony Scaramucci, the founder and managing partner of Skybridge Capital, has commented on the potential for Berkshire Hathaway, the holding conglomerate founded by Warren Buffett, to buy bitcoin. While acknowledging Buffett’s negative stance on crypto, Scaramucci believes it’s still a possibility. ‘Never say never,’ stated Scaramucci.
Skybridge Capital's Anthony Scaramucci on Warren Buffett Buying Bitcoin: 'Never Say Never'
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Skybridge Capital’s Anthony Scaramucci on Berkshire Hathaway Putting Money in Bitcoin: ‘Never Say Never’
Anthony Scaramucci, former White House comms director and founder of Skybridge Capital, has commented on the chances that Warren Buffett’s Berkshire Hathaway could purchase bitcoin in the future.
Scaramucci, a cryptocurrency proponent, acknowledges that Buffett, known as the “ Oracle of Omaha,” has a negative image of crypto. However, this might not matter due to the circumstances that Berkshire Hathaway is facing. Scaramucci declared:
Warren Buffett never bought Microsoft even though he played bridge with Bill Gates every month. And now he owns Apple. Wouldn’t be be ironic if he winds up buying bitcoin as a hedge for his cash ? Never say never.
According to recent reports, Berkshire Hathaway had $167.6 billion in cash during Q4 2023, breaking its firm record registered during Q3. This cash accumulation is likely derived from the lack of opportunities that the firm has faced. In its annual letter to shareholders, Buffett stated that outside the U.S. “there are essentially no candidates that are meaningful options for capital deployment at Berkshire.”
This poses a problem for the conglomerate, which has accumulated enough money to purchase all the teams in the NFL, having a combined value of $163.5 billion.
Going from crypto detractor to crypto believer seems unlikely for Buffett, who has qualified Bitcoin as a “gambling token,” stating that it doesn’t have any intrinsic value, and also likened it to “rat poison squared.” Nonetheless, Scaramucci believes that even as a clear contrarian, Buffett could purchase bitcoin to hedge this large amount of cash held by Berkshire Hathaway.
What do you think about Anthony Scaramucci’s thoughts on Warren Buffett’s Berkshire Hathaway purchasing crypto as a cash hedge? Tell us in the comments section below.
