Buffett dumps Wells Fargo amplifying bull case for gold and Bitcoin

Cointelegraph

Published Sep 05, 2020 05:00AM ET

Updated Sep 06, 2020 07:00AM ET

Warren Buffett and Berkshire Hathaway (NYSE:BRKa) substantially cut their position on Wells Fargo (NYSE:WFC), selling 100 million shares. The Oracle (NYSE:ORCL) of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).

Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.

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