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Warren Buffett: "Bitcoin can't be the world's key currency"
According to CNBC, Warren Buffett said at Berkshire Hathaway's annual shareholder meeting on the 6th (local time), "The US dollar is losing credibility, but that doesn't mean Bitcoin can become the world's reserve currency." He went on to add, "I don't think there is any candidate to replace the world's reserve currency other than the US dollar. All coins are toys and madness."
#USDT #BTC #BNB #crypto2023 #warrenbuffett
According to CNBC, Warren Buffett said at Berkshire Hathaway's annual shareholder meeting on the 6th (local time), "The US dollar is losing credibility, but that doesn't mean Bitcoin can become the world's reserve currency." He went on to add, "I don't think there is any candidate to replace the world's reserve currency other than the US dollar. All coins are toys and madness."
#USDT #BTC #BNB #crypto2023 #warrenbuffett
Despite Warren Buffett's skepticism towards Bitcoin, describing it as "rat poison," Berkshire Hathaway has indirectly benefited from the crypto market.
They invested in Nu Holdings, a company with a crypto platform, which saw its stock increase significantly, contributing to Berkshire's profits. Buffett had invested $500 million in Nu Holdings through a series G funding round before the company went public in December 2021.
A few months later, Buffett increased his stake by another $250 million, resulting in a total investment of $750 million. Nu is up nearly 50% in 2024 alone and recently set all-time highs. This is also coming off a strong 2023, in which the stock was up nearly 100%.
#warrenbuffett #BTC🔥🔥🔥🔥 #Crypto
They invested in Nu Holdings, a company with a crypto platform, which saw its stock increase significantly, contributing to Berkshire's profits. Buffett had invested $500 million in Nu Holdings through a series G funding round before the company went public in December 2021.
A few months later, Buffett increased his stake by another $250 million, resulting in a total investment of $750 million. Nu is up nearly 50% in 2024 alone and recently set all-time highs. This is also coming off a strong 2023, in which the stock was up nearly 100%.
#warrenbuffett #BTC🔥🔥🔥🔥 #Crypto
Warren Buffett In Talks With Biden Administration To Tackle Banking Crisis
Warren Buffett, one of the world’s most renowned investors and the CEO of Berkshire Hathaway, has reportedly been in talks with senior Biden administration officials regarding the banking crisis. According to Bloomberg News, sources who wished to remain anonymous confirmed that Buffett has been in contact with government officials recently, although it is unclear what role he will play in resolving the banking crisis.
Buffett has a reputation for stepping in during financial crises, often referred to as the “Oracle of Omaha,” he has a history of providing support to troubled financial institutions during times of economic distress. During the 2008 financial crisis, he invested $5 billion in Goldman Sachs, while also offering support to other firms. In 2011, he provided financial support to Bank of America, which was struggling with subprime mortgage issues.
Given his track record, Wall Street seems to be looking to Buffett for solutions to the current banking crisis. The situation has been causing concern, with deposit protection and other measures being put in place to prevent bank runs. Despite these efforts, the crisis continues to spread, with banking stocks falling further.
While it remains unclear what role Buffett will play in the current situation, his involvement is likely to provide some reassurance to investors. He has a long-standing reputation for sound investment decisions and is known for his expertise in the banking sector. As the situation continues to unfold, it will be interesting to see what role Buffett ultimately plays in addressing the current banking crisis.
#warrenbuffett #bank #biden #wallstreet #azcoinnews
This article was republished from azcoinnews.com
Buffett has a reputation for stepping in during financial crises, often referred to as the “Oracle of Omaha,” he has a history of providing support to troubled financial institutions during times of economic distress. During the 2008 financial crisis, he invested $5 billion in Goldman Sachs, while also offering support to other firms. In 2011, he provided financial support to Bank of America, which was struggling with subprime mortgage issues.
Given his track record, Wall Street seems to be looking to Buffett for solutions to the current banking crisis. The situation has been causing concern, with deposit protection and other measures being put in place to prevent bank runs. Despite these efforts, the crisis continues to spread, with banking stocks falling further.
While it remains unclear what role Buffett will play in the current situation, his involvement is likely to provide some reassurance to investors. He has a long-standing reputation for sound investment decisions and is known for his expertise in the banking sector. As the situation continues to unfold, it will be interesting to see what role Buffett ultimately plays in addressing the current banking crisis.
#warrenbuffett #bank #biden #wallstreet #azcoinnews
This article was republished from azcoinnews.com
