U.Today - Tech magnate Elon Musk, an active X platform user (and its owner), has shared a few comments on the recent glitch that made the A-class share price of Warren Buffett’s company crash. He also mentioned AI.
One of the tweets that Musk shared in connection with this was a jokingly created screenshot of Buffett’s tweet, which stated “hodl.”
Berkshire Hathaway (NYSE:BRKa) stock "crashes," Musk comments
Musk shared a tweet by the @TrungTPhan account, which stated that “Buffett just posted on this platform for the first time in 9 years to clear up this Berkshire Hathaway issue.”What the legendary stock investor allegedly posted to persuade the company’s shareholders not to sell BRYN was “hodl” – a meme that originated in the misspelling of the word “hold” and then turned into a popular acronym in the crypto community, standing for “hold on for dear life.”
Musk responded with a “face with tears of joy” emoji. The crypto community appreciated Musk’s reaction and the repost he made, getting excited and beginning to jest about Warren Buffett and the technical issue that Berkshire Hathaway became a victim of. Many stated that this screenshot with “hodl” on it was a fake and began to discuss the situation with Buffett’s company.
Musk also reposted a tweet by the Zerohedge news outlet, which also commented on the situation with the tech glitch on the Bloomberg Terminal, stating, “What can possibly go wrong when you have AI reporting on every market move.” The screenshot of the display showed that Berkshire Hathaway A-Class stocks suddenly plunged from $624,400 to $185.10 per share.
The humorous reaction of the crypto community was caused by the fact that Warren Buffett is a rigorous Bitcoin hater.
Here's what really happened
The above-mentioned tech glitch took place on Monday, and it caused the A-class shares of Berkshire Hathaway to look like they collapsed by 100% on the New York Stock Exchange for most of the morning.Trading was then paused for those shares. The glitch also hit the share price of Barrick Gold (NYSE:GOLD) and Nuscale Power, among 40 assets. According to the NYSE, the technical difficulties were caused by price-bands published by the Consolidated Tape Association – a popular tool provided by this organization and used by many large market trading venues.