According to U.Today, Elon Musk, the tech magnate and active user of the X platform, has commented on the recent glitch that caused the A-class share price of Warren Buffett’s company, Berkshire Hathaway, to appear to crash. 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.” The tweet Musk shared was a screenshot of a supposed tweet from Buffett, which simply stated “hodl.” This term originated from a misspelling of the word “hold” and has since become a popular acronym in the crypto community, standing for “hold on for dear life.”
Musk responded to the tweet with a “face with tears of joy” emoji, which was well received by the crypto community. Many began to jest about Warren Buffett and the technical issue that Berkshire Hathaway had experienced. Some pointed out that the screenshot with “hodl” on it was likely a fake and began to discuss the situation with Buffett’s company. Musk also reposted a tweet by the Zerohedge news outlet, which 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 glitch in question occurred on Monday, causing the A-class shares of Berkshire Hathaway to appear as though they had collapsed by 100% on the New York Stock Exchange for most of the morning. Trading was subsequently paused for those shares. The glitch also affected the share price of Barrick 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 tool used by many large market trading venues.