Reading Time: 2min read Listen to Article For years now, Warren Buffett has been talking against cryptocurrencies, and Bitcoin especially, claiming that this technology is nothing more than a bubble and a scam. However, recent reports indicate that he may have had a change of heart.
Berkshire Hathaway Investing in Fintech Mr. While he never admitted to it, many believe that Buffett might be ready to finally join the crypto scene.
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Both of these investments are very unusual for Berkshire, which usually invests in companies like Coca-Cola, and aims for acquisitions of insurance companies.
Buffett has expressed that technology investments are outside of his area of expertise, which is why he never wanted to aim for this area of industry. Are Cryptocurrency Investments Next? At this point, many have started thinking that Buffett might have had a change of heart regarding cryptocurrencies as well.
If there's one thing Warren Buffett will never ever invest in, it's bitcoin -- or any other cryptocurrency. He's called it "rat poison squared," a "mirage," and a "gambling device. He's called bitcoin "just dementia" and compared it to "trading turds. The Oracle of Omaha's longtime distaste for all things cryptocurrency tells us a lot about the Warren Buffett investment philosophy. Here's why Buffett hates bitcoin so much.
However, late was the best year for Bitcoin yet. As a result, the first cryptocurrency became very popular in India. Soon after that, the RBI decided to interfere, and Indian banks were prohibited from working with cryptocurrency-based businesses such as crypto exchanges.
The businessman has made a fortune betting on the stocks most likely to perform. He sure has been on point with most of the bets. The success has made him one of the most respectable figures in the economy.
While this is a matter that has yet to be resolved, cryptos in India — the country where one of the two investments into new technology were made — are still does Warren Buffett invest in bitcoins. The other investment made by Berkshire was into Brazillian StoneCo.
Many have found it to be quite curious that Berkshire would invest into a fintech firm in a country that is just about to start actively dealing in cryptocurrencies. Whether or not cryptocurrency investment is next remains to be seen. Featured image from Shutterstock.