Warren Buffett loses 50,000$

in LeoFinance4 years ago

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One of the investment companies of the billionaire and bitcoin skeptic, Warren Buffett, reported on Saturday, May 2, gigantic losses as a result of the global economic paralysis due to the coronavirus pandemic. Instead, bitcoin appreciates before its third halving.

The Berkshire Hathaway holding company recorded a record loss of nearly $ 50 billion in the first quarter of 2020. The sharp decline accelerated in March as most of the company's businesses and companies were forced to close or restrict their operations to try to contain the spread of the disease in the United States, the country that leads the list of infections and deceased people worldwide.

Berkshire Hathaway:

As efforts to contain the spread of the COVID-19 pandemic accelerated in the second half of March and continued through April, most of our businesses were adversely affected, and the effects to date range from relatively mild to severe

Buffett has referred to bitcoin in the past as worthless, useless, and has vowed never to own cryptocurrencies. In addition, the investor claims that bitcoin has been used to move a "good amount of money illegally."

Despite Buffett's views on bitcoin, the facts reflect that the cryptocurrency is actually consolidating as its third halving approaches. This Bitcoin network event is generating increasing expectations within and outside of the cryptocurrency community. The reduction in the emission of BTC, as an incentive for miners, is capturing worldwide attention while its price in the market remains stable.

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There are too many expectations for this halving, I believe that the rise will take place towards the end of the year, not when the HALVING will take place.

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I just hope that when you can't mine, this hits an incredible high

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