Home / News / Crypto / Bitcoin (BTC) / Snowden vs. Buffett: Bitcoin vs. Berkshire?
Bitcoin (BTC)
3 min read

Snowden vs. Buffett: Bitcoin vs. Berkshire?

Published
Teuta Franjkovic
Published

Key Takeaways

  • Snowden acknowledges Warren Buffett’s impressive 20% annual return on Berkshire Hathaway shares.
  • While highlighting Congressional strong returns, Snowden reveals the underperformance compared to the Nasdaq 100.
  • He emphasizes Bitcoin’s significance as a revolutionary force in finance, potentially reshaping the system.

In a recent tweet , Edward Snowden commended Warren Buffett for his exceptional investment track record.

The Russia-based whistleblower and fugitive pointed out the impressive average annual return of 20% on Berkshire Hathaway shares, juxtaposing this with the stock-selection skills of congressional members.

Politicians’ Gains Pale vs. Market Boom, Buffett Still King

Edward Snowden recently compared  the investment returns of Warren Buffett with those of various members of Congress.

He highlighted the investment achievements of Rep. Dan Meuser (R-Pa.), former House Speaker Nancy Pelosi (D-Calif), Rep. Donald Beyer (D-Va.), and Rep. Josh Gottheimer (D-N.J.), with Meuser’s investments yielding an annual average return of 40.3%.

In comparison, the investments of Pelosi, Beyer, and Gottheimer have seen returns of 21.8%, 20.3%, and 25.9%, respectively.

However, when these returns are put into perspective with broader market performance, a different picture emerges. The Invesco Trust Series, which mirrors the Nasdaq 100 index , has outperformed the investment returns mentioned by Snowden, with a one-year return rate of 50.74% and a start-of-the-year return of 7.36%.

Snowden: Bitcoin – “Most Important Money Since Coins”

An early advocate for the cryptocurrency, Snowden used Bitcoin as early as 2013 to finance the servers used in the acquisition of some classified documents.

Snowden Mocks: Politicians Beat Buffett? Maybe Just Lucky?

Snowden humorously remarked on the exceptional trading performances of certain Congressional members. He suggested  politicians were outperforming even the most acclaimed investor in history. His ironic commendation hints at the investing prowess seemingly possessed by these representatives.

The backdrop to Snowden’s commentary is a broader discourse on the stock trading activities of Congress members. The performance of an ETF that monitors the stock trades of Democratic members potentially highlights this. The ETF has outperformed the S&P 500 since its inception in 2023.

https://twitter.com/wsb0dte/status/1770244997519921233

Also, Nancy Pelosi  and her husband, a venture capitalist, have been spotlighted for their profitable dealings in stocks, notably with cybersecurity firm Palo Alto Networks Inc . This even drew the attention of figures like Tesla’s Elon Musk, who engaged with a discussion initiated by Republican broadcasters Tucker Carlson and Tulsi Gabbard questioning the success of Pelosi’s stock selections.

Was this Article helpful? Yes No

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.
See more