Buffett’s Company to Invest in Fintech

Brazilian payment service StoneCo Ltd. and Paytm from India receive about $600M in total from Buffett's Berkshire Hathaway
30 October 2018   1087

Berkshire Hathaway, headed by bitcoin's implacable bitcoin critic Warren Buffett, invested in fintech start-ups for a first time, The Wall Street Journal reports.

Previously, the famous conglomerate bought mostly "blue chips" of American companies. However, according to the publication, over the past few months, about $ 600 million have been received by two financial companies specializing in fintech markets - Brazilian payment service StoneCo Ltd. and FINTECH Startup Paytm from India.

Investment rounds were led bby portfolio investors of Berkshire Hathaway Todd Combs and Ted Wexler. According to David Smith Kass, a professor at the Robert Smith School of Business, it is no longer possible to ignore the pace of development of Fintech, and Combs and Wexler “expand Berkshire’s prospects and opportunities for the company's investors.”

Earlier, Warren Buffett called Bitcoin “rat poison squared,” and also stated that the purchase of cryptocurrency is not an investment.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   82

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.