What happened with Berkshire Hathaway on Stock market?

[dzungmobile]

It's down 99.9% according to [1] and [2].

It reminds me about a death spiral of Terra $LUNA and $UST two years ago.

Does Bitcoin actually fix it?

Honestly, nobody knows what will happen with Bitcoin price in future but this crash by whatever reasons like a glitch, technical problems is a good example for Bitcoin, cryptocurrency market outsiders to stop attack this market.

Outsiders, who hate this market, often say, crashes only happen in Bitcoin and cryptocurrency market, it's untrue. Another example to prove them wrong is price of crude oil in March 2020.

[alani123]

What would Bitcoin fix? The stock market is a trust based market. Not everything needs to be decentralized.

Equity based investing needs trust, courts and laws, a large overseeing body and organization running the stock market. So it's not an easy thing to fix. If you want to change all these things. If you want legislation to become more fair, the ultra rich to pay their fair share, the corrupt politicians to lose their power... Then you want a revolution. There's no reason to deny it but in a revolution Bitcoin would be only a tool, not everything.

[dzungmobile]

What would Bitcoin fix? The stock market is a trust based market. Not everything needs to be decentralized.

I don't say it and I don't agree with it too. It's words from Snowden, not me.

I disagree with statements to over exaggeration what Bitcoin can do because it will play as a barrier to prevent new people joining this market. A more friendly statement, stay on facts, don't over exaggeration would bring more impacts on Bitcoin adoption.

[avikz]

It was a technical glitch!

https://www.cnbc.com/2024/06/03/nyse-technical-issue-impacting-some-stock-prices-incorrectly-showing-berkshire-hathaway-down-99percent.html

What is there for Bitcoin to fix? Bitcoin's price movement is way more volatile and uncertain. Not sure what issue you are trying to focus on!

Price crashes can happen to any asset class. A lot of outside factors also play crucial roles here.

[PX-Z]

I saw an article regarding this as technical issue from CNBC, in which it make totally sense for such activity.

About the tweet/post, i bet it's something to do with bitcoin price that it won't go down on such percentage, and signals stock holders to move in bitcoin to fix their wrong decision in investing on BRK.A stocks. Well, it's just my interpretation in just 3-word tweet/post, no big deal lmao since its just a glitch.

[bittraffic]

Warren dumping it all!  Something must have happened like Warren's replacement as it sometimes happens when a company is suddenly under a new management.  For a big company owned by a renowned reputable person to start doing something like this, the shit must have hit the fan.

I'm already eager to hear whether Warren is promoting Bitcoin and is planning to meet Justin Sun to ask if Justin knows the password to his BTC wallet.

[pooya87]

The Rat Poison got Warren again

[Reatim]

Honestly, nobody knows what will happen with Bitcoin price in future but this crash by whatever reasons like a glitch, technical problems is a good example for Bitcoin, cryptocurrency market outsiders to stop attack this market.

Apparently this technical issue was caused by a complication in the limit up limit down bands which supposedly prevents increase volatility in the market. Seems pretty ironic, huh? 

Outsiders, who hate this market, often say, crashes only happen in Bitcoin and cryptocurrency market, it's untrue.

Investors who say that it is only cryptocurrency that are volatile do not know what they are saying. Stock market can also be driven by market sentiment just like bitcoin and any other cryptocurrency. Events that are associated to politics or economic activities can affect how a market moves.

I’m unsure how bitcoin can “fix” a stock market crash but it has been observed that though does not directly cause a movement, crypto and stock market often shares a correlation when it comes to market direction. People selling out bitcoin are also most likely selling out stocks. Especially if they are selling because of a geopolitical crisis tht affects all markets immediately.

[boyptc]

A certain glitch.

I know Snowden is a Bitcoin enthusiast but it's inappropriate to compare that with Bitcoin. Anyway, the twist here is even with 99% of BRK.A crash, the remaining 1% is said that will still make Warren as a billionaire.

But whatever the reasons is, it can't be hidden anymore that most of these stock owners, the CEOs are dumping their own stocks for their bunkers.

Oh well, I just remembered Warren's stand against Bitcoin.

[Maus0728]

They really gave a lot of traders heart attack with this glitch and I can only imagine those people that was trying to buy the stocks or were shorting Berkshire, they must've thought that they've finally made it. This kind of glitch in the stock market should be investigated though, I do feel like with this kind of thing, that's only a natural thing to do given that it's one of the biggest stocks out there and they suddenly got this kind of glitch in prices, it's not far from the possibility that someone did this glitch on purpose.

[dzungmobile]

I’m unsure how bitcoin can “fix” a stock market crash

It won't fix stock market crash.

Apparently this technical issue was caused by a complication in the limit up limit down bands which supposedly prevents increase volatility in the market. Seems pretty ironic, huh? 

A certain glitch.

The point is not whether it is a glitch, visually technical issue or a real fall in price but this example can help newbies in cryptocurrency market to understand that how unfair this market is treated by people who don't like this market. They amplify bad events in this market while they can use normal words for descriptions or just don't try to say about this market like the worst one.

The Rat Poison got Warren again

The poison finds Berkshire Hathaway again but anyway I wish best health for Warren even he does not support Bitcoin and this market.

This kind of glitch in the stock market should be investigated though, I do feel like with this kind of thing, that's only a natural thing to do given that it's one of the biggest stocks out there and they suddenly got this kind of glitch in prices, it's not far from the possibility that someone did this glitch on purpose.

I don't follow it further but if it triggers something terrible like Cascade effects on the market, more investigation must be executed. People can lose massive money during a Cascade effect event.

[boyptc]

A certain glitch.

The point is not whether it is a glitch, visually technical issue or a real fall in price but this example can help newbies in cryptocurrency market to understand that how unfair this market is treated by people who don't like this market. They amplify bad events in this market while they can use normal words for descriptions or just don't try to say about this market like the worst one.

They have to learn from this perfect example that it doesn't only happen in stocks but also in crypto markets where there's a bad news, and it can be a disaster to that certain coin or project where the bad news is coming from.

In short, they have to be aware and bear with the FUD that's being spread in the media.

Like this, the market can crash asap without any warning at all while the concern are the newbies, something like this won't really matter for us who have been here for quite a while.

[Don Pedro Dinero]

It was a technical glitch!

https://www.cnbc.com/2024/06/03/nyse-technical-issue-impacting-some-stock-prices-incorrectly-showing-berkshire-hathaway-down-99percent.html

Anyone who knows the stock market would know from looking at that image that it was a mistake. Such a sudden 99% drop cannot happen in a company with such a share price. Just by looking at the shares held by Apple, Bank of America or Coca Cola, which has a market cap of about $1T, such a drop could only happen by exploding multiple atomic bombs, in which case the stock price would be the least of our worries.

[pooya87]

Anyone who knows the stock market would know from looking at that image that it was a mistake. Such a sudden 99% drop cannot happen in a company with such a share price. Just by looking at the shares held by Apple, Bank of America or Coca Cola, which has a market cap of about $1T, such a drop could only happen by exploding multiple atomic bombs, in which case the stock price would be the least of our worries.

The only reason for such a drop being unlikely is the amount of time it took. When it is in matter of minutes, it is most probably a glitch.

Otherwise a huge drop like 90% to 99% is not an impossible drop for any corporation. Or even its price being certain high value is not a reason for it not to have such a big dump. In other words there is no such thing as "too big to fail".

Off the top of my head I can refer you to the German energy giant called Uniper. Back in February 2022, it got dumped 50%-60% and the dump continued until a couple of months later with a total loss of about 95%.
Their stock was once worth €840 (Berkshire Hathaway is worth $409) and it is currently worth about €50.
That's pretty much what we saw with BRK but it took a couple of months. So it is obviously possible to see such dumps in stock market as well without any bombs going off.