Dollar billionaire investor Warren Buffet’s Berkshire Hathaway, known for buying shares of large companies and holding them for the long term, came to the agenda with a big sale again. Buffet, who sold close to $1 billion ($ 982 million) of the shares of Bank of America, one of the largest banks in the USA, increased the cash value he held to $278 billion.

According to the company’s statement, 24.7 million BoFa shares were sold between August 23-27. Berkshire Hathaway, which started Bank of America investments in 2011, is still the bank’s largest investor despite all these sales. Berkshire Hathaway holds $ 35.8 billion worth of BoFa shares.

Is Warren waiting for a collapse?

Some experts and analysts claim that Buffet is expecting a financial collapse behind these decisions. However, a news report on CNBC in recent weeks stated that Buffet thought that the US government would levy more capital gains taxes to close financial loopholes, so these sales would be more beneficial for Berkshire Hathaway shareholders.

Again, experts state that these sales are ‘too much’ to save tax. Therefore, there is still no clear information about why Buffet made these sales, and no comment can be made.

Berkshire Hathaway announced cash assets of $277 billion in the second quarter. With the last BoFa sale, this figure increased to $278 billion.