Investment giant Berkshire Hathaway is currently holding a historic $277 billion in cash amid economic uncertainties.
The firm, led by Warren Buffett, reported net stock sales of $75.5 billion in the second quarter, pushing its total stock sales in 2024 past $90 billion.
Notably, Berkshire significantly reduced its Apple holdings by nearly half during this period.
In recent moves, Berkshire also cut its stake in Bank of America, selling $769 million worth of shares over 12 days.
At the May annual meeting, Buffett discussed the firm’s cash reserves and market conditions, emphasizing a cautious investment approach: “We’re ready to invest, but only in opportunities that offer minimal risk and high returns. It’s not a matter of urgency, but of finding the right prospects.”
Berkshire’s operating earnings for the second quarter rose to $11.6 billion, compared to $10 billion the previous year.
According to crypto analytics firm Santiment, the decentralized oracle network Chainlink (LINK) leads all ERC-20 projects in development activity.
Vice President Kamala Harris, the Democratic candidate for the upcoming presidential election in November, recently spoke at a Wall Street fundraiser where she addressed the cryptocurrency industry for the first time.
Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris’ fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.