{
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        "rendered": "Warren Buffett bought $17B in US T-bills: A bad omen for Bitcoin price?"
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        "rendered": "<div data-testid=\"html-renderer-container\">\n<p>Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, <a title=\"https:\/\/www.youtube.com\/watch?v=9VVVN1bioys\" href=\"https:\/\/www.youtube.com\/watch?v=9VVVN1bioys\" target=\"_blank\" rel=\"nofollow noopener\">revealed<\/a> on CNBC this week that his firm purchased approximately $17 billion in US Treasury bills at the latest auction. Is a stock market crash coming and what does it mean for Bitcoin (<a title=\"https:\/\/cointelegraph.com\/bitcoin-price\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\" target=\"_self\" rel>BTC<\/a>)?<\/p>\n<p><iframe width=\"100%\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/9VVVN1bioys?start=\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen loading=\"lazy\"><\/iframe><\/p>\n<p><strong>Key takeaways<\/strong>:<\/p>\n<ul>\n<li>\n<p>Berkshire held $373 billion in cash or cash equivalents as of 2025\u2019s close, more than double the levels in 2023.<\/p>\n<\/li>\n<li>\n<p>The firm\u2019s rising cash reserves typically precede major stock market crashes, a bad sign for Bitcoin.<\/p>\n<\/li>\n<\/ul>\n<h2>Buffett still sees better value in cash than in stocks<\/h2>\n<p>Buffett\u2019s message is straightforward: Berkshire does not see the recent equity pullback as a sufficiently attractive buying opportunity.<\/p>\n<p>For context, the S&#038;P 500 has fallen about 5.75% since reaching a record high in January.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-04\/019d49d5-fd92-7ca5-bf72-d1cd1022e938.png\"><figcaption><em>S&#038;P 500 weekly performance chart. Source: <\/em><a title=\"https:\/\/www.tradingview.com\/symbols\/SPX\/?exchange=SP\" href=\"https:\/\/www.tradingview.com\/symbols\/SPX\/?exchange=SP\" target=\"_blank\" rel=\"nofollow noopener\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Buffett said stocks are not \u201csubstantially\u201d cheaper after the decline and described the sell-off as \u201cnothing\u201d compared with earlier downturns in which markets fell more than 50%.<\/p>\n<p>That helps explain Berkshire\u2019s latest Treasury-bill purchase. The company <a title=\"https:\/\/www.berkshirehathaway.com\/2025ar\/202510-k.pdf\" href=\"https:\/\/www.berkshirehathaway.com\/2025ar\/202510-k.pdf\" target=\"_blank\" rel=\"nofollow noopener\">ended<\/a> 2025 with about $373 billion in cash and equivalents, up from a record $334.2 billion a year earlier and more than double its level at the end of 2023.<\/p>\n<p>Buffett, who famously called Bitcoin \u201c<a title=\"https:\/\/cointelegraph.com\/features\/warren-buffett-was-wrong-about-a-rat-poison-bitcoin-portfolio-data-shows\" href=\"https:\/\/cointelegraph.com\/features\/warren-buffett-was-wrong-about-a-rat-poison-bitcoin-portfolio-data-shows\" target=\"_self\" rel>rat poison<\/a>,\u201d typically gets into cash before major stock crashes, <a title=\"https:\/\/cointelegraph.com\/features\/is-warren-buffett-growing-cash-pile-bad-sign-stocks-bitcoin\" href=\"https:\/\/cointelegraph.com\/features\/is-warren-buffett-growing-cash-pile-bad-sign-stocks-bitcoin\" target=\"_self\" rel>historical data shows<\/a>.<\/p>\n<p>In 1998, for instance, Buffett began trimming Berkshire\u2019s stock exposure and raising cash, pushing the company\u2019s cash and cash-equivalents holdings to $13.1 billion, or about 23% of total assets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/019904eb-1210-7a81-8701-e1a19bfad470\"><figcaption><em>Berkshire\u2019s cash and cash-equivalents holdings chart. Source: GuruFocus.COM<\/em><\/figcaption><\/figure>\n<p>By mid-2000, that figure had climbed to nearly $15 billion, or roughly 25% of assets, before Berkshire started deploying capital into bargains as the <a title=\"https:\/\/cointelegraph.com\/news\/ai-and-dot-com-bubble-share-some-similarities-but-differ-where-it-counts\" href=\"https:\/\/cointelegraph.com\/news\/ai-and-dot-com-bubble-share-some-similarities-but-differ-where-it-counts\" target=\"_self\" rel>Dot-com bubble burst<\/a>.<\/p>\n<h2>Bitcoin&#8217;s positive correlation with stocks may hurt prices<\/h2>\n<p>Bitcoin has traded more like a stock than a traditional safe haven for much of the post-2020 period, often moving in the same direction as US equities, especially the tech-heavy Nasdaq.<\/p>\n<p>As of Wednesday, the 20-week rolling correlation coefficient between the two markets was positive at 0.47.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-04\/019d49f3-5157-7253-b18c-5e8929096a2e.png\"><figcaption><em>Nasdaq Composite and BTC\/USD\u2019s 20-week correlation coefficient chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>If Buffett\u2019s risk-off strategy is correct, then Bitcoin should see another crash alongside stocks. Fresh <a title=\"https:\/\/cointelegraph.com\/markets\/is-450-billion-dollars-bitcoin-vulnerable-to-quantum-threat\" href=\"https:\/\/cointelegraph.com\/markets\/is-450-billion-dollars-bitcoin-vulnerable-to-quantum-threat\" target=\"_self\" rel>quantum-security concerns<\/a>, <a title=\"https:\/\/cointelegraph.com\/markets\/bitcoin-dips-under-66k-oil-sparks-unsustainable-inflation-risk\" href=\"https:\/\/cointelegraph.com\/markets\/bitcoin-dips-under-66k-oil-sparks-unsustainable-inflation-risk\" target=\"_self\" rel>war-driven inflation risks<\/a>, and <a title=\"https:\/\/cointelegraph.com\/markets\/us-recession-odds-near-50-can-bitcoin-copy-2020-comeback-gains\" href=\"https:\/\/cointelegraph.com\/markets\/us-recession-odds-near-50-can-bitcoin-copy-2020-comeback-gains\" target=\"_self\" rel>nearly 50% US recession odds<\/a> are putting pressure on the BTC price.<\/p>\n<p>Berkshire\u2019s portfolio decisions have also leaned away from crypto-adjacent finance.<\/p>\n<p>In the first quarter of 2025, the firm <a title=\"https:\/\/cointelegraph.com\/features\/warren-buffett-exits-crypto-nubank-250m-profit\" href=\"https:\/\/cointelegraph.com\/features\/warren-buffett-exits-crypto-nubank-250m-profit\" target=\"_self\" rel>fully exited Nu Holdings<\/a>, a crypto-friendly fintech company, after building its position in 2021 and 2022. It secured about $250 million in profits from these investments.<\/p>\n<p>Multiple analysts predict <a title=\"https:\/\/cointelegraph.com\/features\/bitcoin-to-30k-analysts-debate-when-what-price-btc-price-will-bottom\" href=\"https:\/\/cointelegraph.com\/features\/bitcoin-to-30k-analysts-debate-when-what-price-btc-price-will-bottom\" target=\"_self\" rel>BTC\u2019s price to drop to as low as $30,000 in 2026<\/a>.<\/p>\n<p><template data-type=\"markets_outlook\" data-name=\"subscription_form\" data-label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p data-testid=\"post-category-disclaimer\"><span>This article is produced in accordance with Cointelegraph&#8217;s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.<\/span><\/p>",
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