Despite his well-known disdain for cryptocurrencies, the ‘Oracle Of Omaha’ – Warren Buffett‘s Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) has invested in a company that supports the cryptocurrency market and has soared by 27.
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The selloff spree has seen Berkshire Hathaway’s cash pile swell to over $325 billion, with more than $288 billion invested in Treasuries. The adjustments come amid growing concerns that the stock market has become pricey, making it difficult to find anything of value to buy at discounted valuations.
Warren Buffett, Berkshire Hathaway's 1998 Letter to Shareholders Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Warren Buffett has created incredible wealth for shareholders of Berkshire Hathaway.
Buffett first invested in Verisign ( VRSN -0.27%) in 2012, and at the time of this writing, the shares have gone on to increase by at least 325% since then. He continued to buy shares in 2013 and 2014, but it has been more than 10 years since he added to the position. Here's why he's coming back to Verisign now.