RATE Group | Warren Buffett Lost $209 Million By Investing in Amazon Instead of Bitcoin
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Warren Buffett Lost $209 Million By Investing in Amazon Instead of Bitcoin

19 Jul Warren Buffett Lost $209 Million By Investing in Amazon Instead of Bitcoin

Posted at 11:06h in Bitcoin News by

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In mid-May, Warren Buffett made big news with a major splash into the Amazon equities pool. On May 15th Berkshire Hathaway added Amazon stock to its books for the first time. Berkshire executed a mammoth $904 million acquisition of the retail giant’s shares. That investment has performed well over the last two months. But not nearly as well as the bitcoin price.

Here’s how much the Oracle of Omaha lost by investing in Amazon instead of bitcoin.

Warren Buffett’s Amazon Stake

On the day Berkshire Hathaway completed its acquisition, Amazon stock (NASDAQ: AMZN) traded for $1871 at market close. Two hours before the market close Thursday, Amazon shares were priced at $1957, beginning to rally from the day’s earlier losses as the market dipped from $1980 per share at the opening bell.

That’s not a bad return for Warren Buffett’s investment…

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