Bitcoin’s implacable critic Warren Buffett surprised crypto industry with his decision to invest in fintech start-ups on behalf of Berkshire Hathaway, which he heads. It is reported by The Wall Street Journal.
As is known, the conglomerate was previously engaged in acquisition of “blue chips” from American companies. However, WSJ reports that over the past months, two fintech companies that specialize in market development have received $ 600 million. These companies turned out to be a brazilian payment service StoneCo Ltd. and the Indian startup Paytm.
The investment flow was regulated by Berkshire Hathaway investors – Toddy Combs and Teddy Weschler. A Professor Cass Business School, David Smith, says that there is no more time to ignore the development of fintech. He also noted that Combs and Weschler “expand Berkshire’s prospects and opportunities for the company’s investors.”
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