Known for his critical attitude towards cryptocurrencies Warren Buffett managed to get on the agenda again. Buffett’s Berkshire Hathaway investment firm retains its assets in five companies, including Ripple partner Japanese Sumitomo Corporation. increased.
Sumitomo Mitsui Banking Corporation owns approximately 9.9% of SBI Holdings, Ripple’s largest external shareholder.
👀Buffet is back buying more Japanese financial stocks. 1 of the 5 companies is Sumitomo Corporation. This hits close to home for Ripple, R3 & $XRP Holders, with Sumitomo Corp financial arm = Sumitomo Mitsui Financial Group, which owns approx 9.9% of SBI Holdings, (largest…
— 🌸Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) April 11, 2023
NEWS CONTINUES BELOW
Buffett cryptocurrencyHe is one of the popular names who are critical of them. However, this has never stopped the famous name from investing in companies exposed to cryptocurrencies. Speaking to Nikkei Asia, Buffett said he was pleased with his initial investment in Sumitomo Corp. The firm’s performance resulted in Buffett increasing his firm’s stake in the company. Based on the success of its initial investment, Berkshire Hathaway increased its stake in the major Japanese trading company in November.
Is Warren Buffett Thinking Positive About Ripple?
Warren Buffett RippleHe did not give a direct explanation of , so a clear answer is not possible. But it’s almost certain that Buffett was aware of the ongoing litigation with the SEC. Buffett, who stands out with his experience and success, generally shifts his investment to profitable areas.
Ripple’s fight with the SEC has been going on since December 2020. Many expect a decision to come out this year. Moreover, several lawyers and experts shared the view that Ripple could eventually rise to the top. The lawsuit is also expected to shed more light on which assets are securities and which are not.
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