[Warren Buffett was defeated by Bitcoin (BTC)]
Well-known venture capitalist and Morgan Creek Digital partner Anthony Pompliano (known as "Pomp" in the cryptocurrency Twitter circle) recently issued a statement claiming that the market value of Bitcoin has surpassed its long-term rival, the famous investor Warren Buffett and his wave Kesha Hathaway
investment funds. Buffett continues to be hostile to Bitcoin, although TRON founder Justin Sun has stated that Buffett holds some BTC and TRX.
In the past, Pompliano was an avid supporter of Bitcoin, but between 2019 and 2022, he has increased his focus on other assets and investment strategies, arguing that he should not focus solely on Bitcoin. Pompliano had predicted that Bitcoin would rise from $12,000 to $100,000 in 2.5 years, but it actually only reached $69,000 in October 2021, falling short of his high expectations. This prompted him to remove his "laser eyes" from his Twitter profile photo and admit that "Bitcoin has made him more humble."
Currently, Bitcoin’s market capitalization is $813.5 billion, surpassing Berkshire Hathaway’s market capitalization of $78.813 billion. Pompliano noted that while Bitcoin is up about 1,000% over the past five years, Berkshire is only up 76%. Buffett is famous in the crypto community for calling Bitcoin “rat poison squared” and has maintained this view ever since. Buffett’s deputy, Berkshire Hathaway Vice President Charlie Munger, also has an aversion to Bitcoin. Monger passed away on November 28, 2023, at the age of 99.
In 2020, Sun got the chance to have dinner with Buffett after donating $4.5 million to Buffett-related charities. At the dinner, he gave Buffett a Samsung Galaxy Fold 2 phone with a built-in crypto wallet, 1 Bitcoin and 1,930,830 TRX. Later, Buffett said he donated his phone to the GLIDE Foundation and emphasized that he does not own any cryptocurrency and will never own it.
With a portfolio of $118.5 billion as of 2023, Buffett is the fifth richest person in the world.
