Berkshire's stock seeing a normal drawdown but still in an uptrend, says Carter Worth
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Yahoo
2 hours ago
- Yahoo
Wall Street's New Bitcoin Darling Says It'll Be "The Berkshire Hathaway of The Bitcoin Ecosystem" — Will it Actually Happen?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Wall Street's new Bitcoin darling has declared a lofty goal for the firm: becoming 'the Berkshire Hathaway (NYSE:BRK, BRK.B)) of the Bitcoin ecosystem." 'We're really trying to create a fortress-like environment for our Bitcoin and really trying to position ourselves as the Berkshire Hathaway of the Bitcoin ecosystem,' Bitcoin Standard Treasury Company investment chief Sean Bill told Bloomberg last week. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The new firm, which will serve as the latest Bitcoin proxy for Wall Street speculators, is not the only one that has declared this ideal. 'We're going to be one of the major players in the space where I look at us as kind of the Berkshire Hathaway of Bitcoin treasury companies,' Strive Asset Management CEO Matt Cole said in May. But what does becoming the Berkshire Hathaway of the Bitcoin ecosystem or Bitcoin treasury companies mean? In the traditional finance world, Berkshire Hathaway is a symbol for all the ideals that most companies aspire to, from integrity to corporate discipline and long-term shareholder value growth. This reputation has come with several benefits. For one, the firm has its pick of acquisition deals as businesses line up to be included in its portfolio. At the same time, it also allows the firm to command favorable terms in credit markets. Trending: New to crypto? on Coinbase. These elements would be critical for a firm looking to become the dominant player in the Bitcoin treasury ecosystem. But attaining such heights is no walk in the park. Bitwise Head of Alpha Strategies Jeff Park said in June that the Berkshire Hathaway of Bitcoin would have to master three return on equity strategies, including liability, asset and operating equity management. But that's not all. 'Becoming the 'lender of last resort' for the global Bitcoin economy is both a privilege and responsibility that will demand flawless execution,: he said. 'But to truly earn this honor, a fourth element is essential. If 'never sell your Bitcoins' is the ethos, then leadership must also embody Bitcoin's culture for the long term. It must unapologetically back Bitcoin development, supporting the community over the corporate, and invest its spiritual weight alongside its financial.'Park said no single firm checked all the boxes at the time. Until such a firm arises, MicroStrategy (NASDAQ:MSTR), the pioneer of the Bitcoin treasury strategy, remains the dominant player. At last look, the firm holds nearly 608,000 BTC worth over $71 billion, roughly 3% of all Bitcoin that will ever exist. By comparison, Bitcoin Standard Treasury Company intends to launch with just over 30,000 BTC worth $3.5 billion, making it the fourth-largest Bitcoin treasury. But according to Bill, the firm plans to quickly rise to the second spot, displacing MARA Holdings (NASDAQ:MARA), which holds 50,000 BTC on its balance sheet. Read Next: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Image: Imagn Images This article Wall Street's New Bitcoin Darling Says It'll Be "The Berkshire Hathaway of The Bitcoin Ecosystem" — Will it Actually Happen? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
VeriSign Stock Falls After Berkshire Hathaway Cuts Holdings
VeriSign Inc. (NASDAQ:VRSN) shares dropped Tuesday following news that affiliates of Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) are selling a large chunk of their holdings. The investment firm is offloading 4.3 million shares of the internet infrastructure company at $285 per share, a transaction valued at approximately $1.22 billion. The sale aims to bring Berkshire's ownership below the 10% regulatory threshold, which would otherwise trigger additional disclosure and compliance is not offering any new shares in this deal and will not receive any proceeds. An additional 515,032 shares may be sold if underwriters exercise their option to purchase more. Once the offering closes on July 30, Berkshire has agreed to a 365-day lock-up period on its remaining stake. VeriSign's Operational Performance Separately, VeriSign posted second-quarter earnings of $2.21 per share, topping forecasts. However, revenue came in at $409.9 million, narrowly missing expectations. The company also raised its full-year revenue forecast to between $1.645 billion and $1.655 billion, reflecting continued operational strength. VeriSign operates key internet infrastructure, including .com and .net domain registries and two of the internet's 13 global root servers. Related ETFs include the First Trust Dow Jones Internet Index Fund (NYSE:FDN) and the Global X Cybersecurity ETF (NASDAQ:BUG). VRSN has a 52-week high of $308.00 and a 52-week low of $172.49. Year to date, VRSN is up approximately 49%, and it currently trades about 8.2% above its 50-day simple moving average. Despite the recent pullback following the secondary offering, the stock remains on a modest upward trajectory. Price Action: VRSN shares are trading lower by 6.20% to $287 premarket at last check Tuesday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? VERISIGN (VRSN): Free Stock Analysis Report This article VeriSign Stock Falls After Berkshire Hathaway Cuts Holdings originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Newsweek
8 hours ago
- Newsweek
Warren Buffett Makes Major Sale
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Berkshire Hathaway, the conglomerate led by revered investor Warren Buffett, has sold roughly one-third of its stake in Verisign, a U.S.-based provider of domain name registry services and internet infrastructure. On Monday, Verisign made the announcement that Berkshire will be selling 4.3 million shares on Monday. In a subsequent release, the company said that these would be priced at $285 per share, meaning the transaction will generate over $1.2 billion for Berkshire while reducing its stake from 14.2 to under 10 percent. Why It Matters Berkshire began investing in Verisign in 2012, according to a prospectus submitted by the company with the Securities and Exchange Commission (SEC). Since that time, the company's stock has risen nearly 700 percent, and Berkshire's sale is being touted as yet another example of its CEO's prescient investment skills. What To Know Verisign is a Virginia-based company best known for operating registries for top-level domains like .com and .net. In its most recent earnings results, the firm reported a 5.9-percent increase in revenue to $410 million in the second quarter. Verisign said that Berkshire may sell a further 515,032 shares—worth roughly $150 million at the $285 price point—and that it will receive no proceeds from the sale. The company added that the transaction is intended to reduce Berkshire's stake to under 10 percent, given this threshold "triggers additional regulatory obligations." Berkshire Hathaway chairman and CEO Warren Buffett during an interview in Omaha, Nebraska, on May 7, 2018. Berkshire Hathaway chairman and CEO Warren Buffett during an interview in Omaha, Nebraska, on May 7, 2018. Nati Harnik/AP Photo, File Buffett's company held nearly 13.3 million shares in Verisign as of late March, according to a filing in May with the SEC. Affiliates of Berkshire have been invested in the company since 2012, a year when the stock averaged around $41 and peaked at more than $49. Verisign, which now boasts a market capitalization of $28.6 billion, has since seen its share price rise to close at $305.98 on Monday, meaning the offer price represented a discount of around 7 percent. According to regulatory filings, Berkshire's portfolio comprises a blend including technology companies—primarily Apple—as well as those in the financial services, energy, automotive and food and drink sectors. What People Are Saying Adam Patti, CEO of VistaShares described Berkshire's portfolio as "really well-balanced portfolio chosen" to CNBC in April, and Buffett as "the most successful investor the world has ever seen." What Happens Next? Verisign shares fell sharply in overnight trading following the announcement, but are up nearly 50 percent in the year-to-date. Buffett is set to step down from his role as Berkshire's CEO at the end of the year, and announced that he would be handing over the reins to Greg Abel, vice-chair of non-insurance operations.
