Warren Buffett is back talking shit about Bitcoin. In a television interview on Monday, the famed investor pledged to never own cryptocurrencies, claiming they “basically have no value.”

“You can’t do anything with it except sell it to somebody else,” Buffett told CNBC. “But then that person’s got the problem.”

The “Omaha Oracle” then inferred criminal activity to be the primary use-case for cryptocurrencies. So, a logical offset to holding Bitcoin would be shorting suitcases — betting that Big Suitcase fails as money launderers opt to move illicit funds with Bitcoin rather than cash in suitcases, because Scorsese movies are documentaries.

[READ: Buffett dumps $800M worth of Apple stock, invests in biotech and groceries ]

We thought: What if Buffett’s holding conglomerate Berkshire Hathaway never bought $4 billion worth of JP Morgan shares back in 2018?

What if Buffett bought and held Bitcoin instead?

Warren Buffett and the banks: A love story

Warren Buffett loves banks, and has so for decades. Mainly known for buying into Wells Fargo and Bank of America, Berkshire’s 2018 earnings reports revealed it had acquired a pretty epic stake in Wall Street powerhouse JP Morgan Chase, led by Bitcoin-hater extraordinaire Jamie Dimon.

This truly signaled hard romance. By the second half of 2019, Berkshire was in the top-five biggest shareholders of Bank of America, Wells Fargo, Goldman Sachs, Bank of New York, US Bancorp, and JP Morgan Chase — a group that would go on to be labeled Buffett Banks.

Financial services make up roughly 40% of Berkshire’s portfolio today, which in total exceeds $248 billion. Just yesterday , Buffett said he finds banks “very attractive compared to most other securities” he sees.

Thing is, Berkshire didn’t meet expectations last year. Despite earning a cool $81.42 billion in 2019, its stock rose just 11%, as the S&P 500 (a popular index) grew by 31.5% including dividends.

This was reportedly Berkshire’s biggest underperformance since 2009, capping off a lacklustre decade .

The ‘back of the envelope’ math

First, a disclaimer. Berkshire’s investments are actively managed and fluid. Buffett‘s certainly known for extremely long-term strategies, but buying stock to permanently hold is rare. Fund managers still regularly add to and trim their positions.

For the sake of convenience, let’s simply compare buying and holding $4 billion worth of JP Morgan Chase shares to Bitcoin, from the end of September 2018 (when the public first learned of Berkshire’s investment) until now.

JP Morgan Chase:

Bitcoin:

If Buffett did opt for holding Bitcoin instead of building a major position in JP Morgan in 2018, he would’ve earned an additional $ 1,103,892,000. That’s over a billion dollars in missed gains.

It should also be noted that Berkshire has increased its JP Morgan Chase position to 60 million shares, worth more than $7.8 billion.

Buffett, realistically, doesn’t care, but Berkshire’s shareholders are reportedly growing restless, with some demanding to hear more from the firm’s vice chairmen Greg Abel and Ajit Jain in the future.

Not to mention, Berkshire is actually sitting on $128 billion in spare cash, basically doing nothing. If only Buffett put just 3% of it into Bitcoin…

Snap’s great quarter somehow ends with shares taking a dip

Snap posted its Q1 2021 earnings last night, and despite its impressive results, its shares were down nearly 3% in after-hours trading. After the results, the share price took a 6% jump , but within hours, it plunged down.

Let’s look at the company’s numbers:

Revenue: $769.6 million vs $744 million estimated; 66% year-on-year growth.

Net loss :  $287 million vs $306 million in Q1 2020 ; the wall street estimate was $274 million.

Adjusted EBITDA loss: $2 million vs $81 million in Q1 2020.

User growth: 280 million vs 229 million in Q1 2020.

While in most departments Snap beat estimates and performed well, Yahoo Finance noted that the average revenue per user and user growth in North America didn’t meet analysts’ expectations .

The company expects that in the next quarter it’ll reach the mark of 290 million daily active users and 80-85% year-on-year revenue growth.

Snap’s CEO, Evan Spiegel, also noted that for the first time in the firm’s history Snapchat has more users on Android than on iOS. This could be due to its aggressive expansion efforts in Android-heavy countries like India.

The company is also focusing on integrating its camera solution in other apps. Last year, Snap Inc. revealed its desire to put the Snap camera on as many apps and devices as possible. In February, the company partnered with India’s short video app Moj to bring its AR lenses to the app .

EV startup Fisker Inc. to become publicly listed company after special merger

Fisker, the latest car company from legendary car designer Henrik Fisker , has entered into an agreement with a special acquisition company which will see the EV startup listed on the New York Stock Exchange (NYSE).

According to an announcement made earlier today , Fisker and Spartan Energy Acquisition Corp., a special purpose acquisition company, have entered into a definitive agreement for a business merger that would effectively make Fisker a publicly listed company.

Fisker’s merger here is similar to what EV startup Nikola did to get the company listed publicly . In these cases, companies looking to go public can merge with other firms that are already listed. These already listed companies are set up with the specific goal of at some point merging with another company that supports their vision and serve as gateways to the stock exchange.

These mergers can reduce the cost and time associated with taking a company public. As such, they can be very useful financing strategies for fast-growing companies.

But with Tesla and Nikola employing similar strategies (in the sense that they are now publicly listed, Tesla undertook an IPO not a merger to be listed), there does seem to be a trend of being publicly listed appearing here.

Henrik Fisker is no stranger to the automotive world. He’s previously designed some of the most iconic vehicles ever, and even worked at Tesla for a while.

His latest foray into the EV world, with his company Fisker Inc., wants to make the world’s most sustainable electric vehicle, called the Ocean. Fisker Inc’s first car is expected to hit roads in 2022 and will include an interior that’s partly made out of recycled plastic reclaimed from the ocean.

Updated, July 14, 0829UTC : The original version of this article potentially implied that Tesla merged with another company to go public. This was incorrect, Tesla held an IPO. The article has been updated to reflect this.