Bitcoin’s ROI Completely Overshadows Berkshire Hathaway’s Numbers From the Past 50+ Years
- Ever since Buffett took control of Berkshire Hathaway, the firm’s stock prices have gone up by 997,900%.
- However, in the same breath, we can see that since its introduction into the market around a decade back, Bitcoin’s value has risen by a mammoth 720,000,000%.
According to statistical data available online, international holding firm ‘Berkshire Hathaway’ — whose CEO is the world famous economist/ finance guru, Warren Buffett — has seen its stock prices increase by a whopping 997,900 percent since he took control of the company more than 50 years ago (1964 to be exact).
For those of our readers who may not be aware of Buffett’s credentials, he is currently one of the richest men in the world — with one of Forbes’ latest articles estimating his net worth to be around $82.5 billion.
Bitcoin’s Ascent has Been Meteoric to Say the Least
Even though Bitcoin has only been around for a little more than a decade, the flagship crypto asset’s value has surged by an insane 720,000,000 percent since it’s price was first recorded.
Additionally, it should also be pointed out that Buffet from the very start has been a crypto hater — who has often likened Bitcoin to ‘rat poison’ and other such things. To be even more specific, in a recent interview, the respected finance pundit was quoted as saying:
“ It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me. It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything.”
Lastly, as per an article published by Bloomberg recently, Buffett’s Berkshire Hathaway put in a whopping sum of $340 million into an alleged Ponzi-type scheme called ‘DC Solar’ — a project that has been the subject of immense Federal scrutiny since its inception.
Bitcoin Has Provided Much Greater Returns than Traditional Investments
Despite Mr. Buffett showcasing his hatred for Bitcoin (and its associated crypto offerings) time and again, the fact that the premier digital currency has severely outperformed his company’s native stock offering speaks volumes for itself.
Additionally, it also bears mentioning that Berkshire Hathaway is a centralized entity that currently owns a number of mainstream corporations such as Duracell, American Express, Wells Fargo, and The Coca-Cola Company.
Bitcoin, on the other hand, is a completely decentralized protocol that has been able to provide its backers with 722 times more returns when compared to Berkshire Hathaway.
Thus, when it's all said and done, it seems as though John McAfee’s $1 million price target for Bitcoin isn't all that outlandish — especially when looking at the altcoin’s illustrious financial history.