Bitcoin ETF on Warren Buffett's Radar? Nate Geraci Says Bring It On

U.Today - Warren Buffet's Berkshire Hathaway (NYSE:BRKa ) investment fund recently made headlines with changes to its portfolio. According to a recent regulatory filing, the firm reduced its position in tech giant Apple (NASDAQ:AAPL ) by nearly 50%, Capital One Finance by 21.27% and Floor & Decor by 16.78%. These were the largest declines in Berkshire Hathaway's portfolio, while Sirius XM (NASDAQ:SIRI ) and Chubb (NYSE:CB ) Limited were the largest additions at 262.24% and 4.28%, respectively.

The company added new companies in the forms of Ulta Beauty (NASDAQ:ULTA ) and HEICO (NYSE:HEI ) Corp to the list. The total portfolio value of Warren Buffett's company stands at a staggering $279,969,065,000.

When the news broke, it naturally sparked discussion and debate. However, an interesting point of view was presented by Nate Geraci, who is the president of the ETF Store. Geraci said that he would like to see the crypto community's reaction if Warren Buffet bought Bitcoin or Ethereum ETFs. "Complete meltdown," Geraci assumed.

Buffet and BitcoinIt would indeed be a surprise, as Warren Buffett has been quite vocal about his skepticism toward Bitcoin and crypto in general. He previously called it a "gambling token" with no real value and compared it to the Dutch tulip bubble of the 17th century.

On the other hand, while Buffett's skepticism toward BTC has been all over the news, it is worth noting that Berkshire Hathaway has invested in Nu Holdings, a Brazilian fintech company that provides cryptocurrency services.

Source: Investing.com