Warren Buffet’s Holding Makes Fintech Investments
October 31, 2018
One of the US largest holdings named Berkshire has invested over $600 million in fintech projects.
In fact, it’s a common practice for major organizations to finance startup projects like that. But this time it was Berkshire Hathaway owned by Warren Buffet who is also known for its negative stance towards digital currencies. This time the company seems to change its mind.
Quite recently Warren Buffet has voiced his views about the digital currency industry and defined bitcoin as a casino. He used to say that the crypto euphoria is going to end soon. But despite this he started to finance fintech projects.
Earlier the organization invested in big US-based companies only, but now two fintech projects, Brazilian StoneCo Ltd and Indian Paytm gained its backing. The both are closely related to cryptocurrencies.
The idea to put up funds in fintech projects was first proposed by Todd Combs and Ted Weschler, portfolio investors at the Buffet’s company. Perhaps, they just realized the industry could not be ignored anymore as it is developing full speed and may generate healthy returns in the future.