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American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.

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Changing Fintech Sentiment Attracts $600 Million from Warren Buffet’s Berkshire Hathaway

Changing sentiment towards the blend of finance and technology, commonly referred to as the Fintech sector, has now seen Warren Buffet investing $600 million into the industry, according to a Wall Street Journal article published October 30, 2018. Investment Details The money is split between two large companies in emerging markets. One is the payment processor StoneCo. LTD in Brazil...Read More. The post by Nigel Dollentas appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Warren Buffett’s Berkshire Hathaway Invests $600 Million in Two FinTech Firms

Despite Buffett’s blatant disdain for cryptocurrency and fintech, two $300 million dollar investments into two fintech payment firms suggest that Berkshire Hathaway may be ready to join the crypto party. A Change of Heart? On Tuesday the Wall Street Journal (WSJ) reported that Warren Buffett’s multinational investment conglomerate, Berkshire Hathaway, is reported to have invested nearly $600 million in two fintech firms focused on emerging markets. Buffett, who is a notorious no-coiner, is also infamously vocal about his disdain for cryptocurrency and has gone on record as saying “Bitcoin isn’t an investment” as it “doesn’t produce anything.” He believes that the “rat poison” is “neither a currency” nor “a way of investing.” Therefore it makes sense that the most recent investments were managed by Todd Combs who is one of Berkshire’s two portfolio managers. Berkshire Takes a Leap of Faith In August, Berkshire is said to have invested $300 million in Paytm, India’s largest mobile-payments provider and last week the firm spent $300 million to purchase IPO shares in Brazilian payments processor StoneCo. These investments raise attention as investors have long pondered what direction the firm will take in the absence of Buffett, as it is thought that shares of Berkshire Hathaway carry a premium thanks to the ‘oracle’ of Omaha’s’ brilliant leadership. Furthermore, Buffett is known for making investments primarily in blue-chip companies like Coca-Cola, Wells Fargo, Bank of America, and Phillips 66. The current investments into fintech companies represent an uncharacteristic deviation from Berkshire’s traditional investment selections. Admittedly, Buffett has previously commented that tech sector investments are removed from his realm of expertise. Combs, on the other hand, has plenty of experience investing in the tech sector as he managed a hedge fund with significant investments in the sector and now hold a spot on the Paytm board. Currently, Berkshire Hathaway has $711.9 billion in assets under management (AUM) and these recent investments show that Berkshire is “widening” it’s portfolio’s sector allocations. Do you think Berkshire Hathaway will eventually invest in cryptocurrencies? Share your thoughts in the comments below!  Images courtesy of  Bitcoinist archives, Shutterstock. The post Warren Buffett’s Berkshire Hathaway Invests $600 Million in Two FinTech Firms appeared first on Bitcoinist.com.
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Berkshire Hathaway Invests Near $600 Million into India’s Paytm and Brazil’s StoneCo Fintech Payment Firms

Berkshire Hathaway is known as being a multinational holding company that is run by Warren Buffett as CEO and chairman. Two recent investments they made were big enough to reach the Wall Street Journal, accounting for approximately $600 million towards two fintech payment first. The investments seem to have been pursued by Todd Combs, one of the two portfolio managers for Berkshire. The first of the investments, which happened in August, appears to be for a $300 million stake in Paytm, which is the largest mobile-payment service in India. The second investment, which was made in the last week, was to establish an unlisted number of shares through an initial public offering with StoneCo, which is the fourth-largest payment processor in Brazil by volume. Making investments like these are slightly off the typical path that Berkshire usually takes, considering the $711.932 billion that they handle in assets, as of 2018. Their better-known investments include blue-chip firms, like Coca-Cola. They also have acquired multiple insurance companies and utilities firms. In terms of technology investments, Buffett had held on to the sentiment that technology has not been his “circle of competence.” Combs, along with the second portfolio manager Ted Weschler, have been working to broaden the scope of the company’s investments. Both StoneCo and Paytm have proven themselves as established companies that have a strong stance in their respective industries and local markets. The Wall Street Journal has noted that the fact of Warren Buffet’s investment firm investing in fintech companies is a sign that the industry is maturing. In fact, the fintech industry managed to bring in $35 billion in venture capital for the first three-quarters of 2018. Still, no one can forget Buffett’s stance on Bitcoin, called it “rat poison-squared,” with his accusation ringing out through both the crypto and fintech world. He has continually held the opinion that Bitcoin does not count as currency and it is a foolish way to invest. In fact, about a year ago, he predicted that Bitcoin’s new “bubble territory” indicated that it would soon “implode.” The demonetization policy in India created a much different perspective, as the economic struggles lead consumers to turn to cryptocurrency for support in 2016. The popularity of this market continued to grow into 2017, which the government met with an anti-crypto crackdown from RBI in April this year. Since then, there have been many petitions for change, both publicly and by the industry. The ban has remained, but the government plans to solidify their position officially in November this year. Brazil has been welcoming to cryptocurrency, as the largest brokerage in the country put out a statement this month that it plans to launch a cryptocurrency exchange with Bitcoin and Ethereum. The reason they gave for getting involved was largely due to the popularity and demand from local investors to do so.
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Buffett’s Berkshire Hathaway Invests into India’s Paytm Digital Payments Company One97 Communications

Berkshire Hathaway’s Warren Buffet is currently negotiating to purchase a stake in India’s largest digital payments company, Paytm. The investment may amount to anywhere between 20 to 25 billion rupees in Paytm’s parent company, One97 Communications. The company will also acquire a 3-4 percent stake in One97 Communications. The deal is being brokered through a primary subscription of shares. If the deal does go forward, it may be signed in the coming weeks and Paytm could gain in value to the amount of over $10 billion. The Economic Times reported that Todd Combs, a key fund manager at Berkshire, is leading the transaction and is reportedly seen as the firm’s chief investment officer. At this point, One97 and Berkshire have not commented or respond to requests for comment. Paytm is the largest mobile commerce platform in India and it is already backed by SoftBank Japan and Alibaba, its affiliate. Paytm also noticed an increase in traffic when India removed 86 percent of its cash from circulation, leading to a cash crunch. As a result, digital payments stepped in and provided an alternative mode of payments.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
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BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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