CryptoPunk is madly fired Buffett faces a dilemma

CryptoPunk is madly fired Buffett faces a dilemma

Legendary investor Warren Buffett has been outspokenly criticizing cryptocurrencies for years. But now he may face a dilemma, because some of Berkshire Hathaway’s holding companies have invested in the growth of cryptocurrencies, which may cause Buffett to change his attitude or be forced to sell his portfolio. These positions.

Monday, Buffett holds a large stake in Visa headlines, because the company paid 49.5 Ethernet Square (about $ 150,000) to purchase the number one NFT artwork –CryptoPunk 7610. Visa’s move may help legalize NFTs because it marks a large, well-known company’s bet on a non-financial product asset whose valuation is rising.

Visa has stated that it hopes to “have a place on the negotiating table” for NFT growth. The company has been developing cryptocurrency services and products.

Buffett is one of Visa’s largest shareholders, holding 9.987460 shares of the company as of the end of the second quarter, equivalent to 0.59% of the outstanding shares. Visa is Berkshire Hathaway’s 16th largest stock, and these positions are valued at approximately $2.3 billion.

Buffett has always had a negative view of cryptocurrencies. He once said that Bitcoin “may be the square of rat poison” and it is destined to have a bad ending.

However, Buffett has remained relatively silent about the emergence of Ethereum and NFT. If he publicly opposes these two investments, it means criticizing the company that has a large weight in his portfolio.

In addition to Visa, Berkshire Hathaway also holds shares in Brazilian fintech startup Nubank, which also supports cryptocurrencies. It now provides Bitcoin exposure through an ETF and has a dedicated introduction to cryptocurrency on its website. The currency part.

What would Buffett do? Will he change his attitude towards cryptocurrency and remain silent about the companies he invests in turning to cryptocurrency growth projects, or will he start liquidating the stocks of companies such as Visa because of his aversion to cryptocurrencies?

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/cryptopunk-is-madly-fired-buffett-faces-a-dilemma/
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