Allocating just 1% of Berkshire Hathaway's portfolio to Bitcoin could have boosted Warren Buffett's profits by over 25%.
On June 3, Berkshire Hathaway's stock, BRK.A, experienced a dramatic but brief drop due to a technical glitch on the New York Stock Exchange (NYSE). The glitch caused Berkshire shares to appear to have fallen by nearly 100%, prompting the NYSE to halt trading in several high-profile stocks to correct the issue.
Near the close of trading, the NYSE announced it would promptly cancel the erroneous trades that resulted from the earlier technical glitch. Nonetheless, this whole episode has brought the market's attention to Berkshire Hathaway's stock gross underperformance against Bitcoin (BTC) over the past decade—without any glitch.
Berkshire Hathaway's stock has plummeted by nearly 100% in value compared to Bitcoin since 2015—from about 1,000 BTC to 9.15 BTC.
