Yuri Molchan
Elon Musk was commenting on the recent technology glitch that appeared to cause shares in Warren Buffett's company to plummet 100%.
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Tech mogul Elon Musk and active users of the X platform have commented on the recent glitch that caused shares of Warren Buffett's A-list company to crash, with AI also being mentioned.
One of the related tweets Musk shared was a screenshot of a joking tweet from Buffett that read “hodl.”
Musk says Berkshire Hathaway stock will “plummet”
Musk shared a tweet from the @TrungTPhan account, saying, “Buffett posted on this platform for the first time in 9 years to resolve Berkshire Hathaway's issues.”
The legendary stock investor's purported post to convince the company's shareholders not to sell BRYN was “hodl,” a meme born from a misspelling of the word “hold” that has since become a popular acronym in the crypto community for “hold on for dear life.”
Musk responded with a “face with tears of joy” emoji. The crypto community appreciated Musk's response and repost, and began to fuss and joke about the technical issues suffered by Warren Buffett and Berkshire Hathaway. Many said the screenshot with “hodl” written on it was fake, and began discussing the situation with Buffett's company.
Musk also reposted a Zero Hedge News tweet commenting on the Bloomberg terminal's technical glitch, saying, “What's the problem when an AI is reporting every market move?” A screenshot of the screen showed Berkshire Hathaway A-class shares suddenly plummeting from $624,400 to $185.10 per share.
Humorous reactions from the crypto community were sparked by the fact that Warren Buffett vehemently dislikes Bitcoin.
What actually happened
The aforementioned technical glitch occurred on Monday, causing Berkshire Hathaway's Class A shares to appear to plummet 100% on the New York Stock Exchange for much of the morning shortly after trading began.
Trading in those stocks was subsequently halted. The outage also affected the shares of Barrick Gold and NuScale Power, among the 40 assets. The NYSE said the technical issue was caused by a price band published by the Consolidated Tape Association, a popular tool provided by the organization that is used by many large market trading venues.
About the Author
Yuri Molchan
Yuri is interested in technology and innovation. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many ways in the future. He has contributed articles to multiple crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, and Max Keiser.
