Cryptocurrency23 minutes ago (Sep 10, 2020 09:20AM ET)
Buffett shunned tech for many years until now — would it buoy Bitcoin?
Ahead of its initial public offering (IPO), Warren Buffett and Berkshire Hathaway (NYSE:BRKa) invested in tech-cloud company Snowflake. Buffett has largely avoided tech companies for many years, investing heavily in banks. That trend is starting to change, and it might benefit Bitcoin (BTC) in the long term.
Buffett has steered away from tech due to his core philosophy of value investing. Buffett likes to evaluate businesses based on cash flow, competitive advantage, and overall stability. He previously said:
Buffett shunned tech for many years until now — would it buoy Bitcoin?
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