Warren Buffett this week again expressed his contempt for the cryptocurrency market. Investment guru broke into the headlines, trashing bitcoin. After analyzing his statements you would think that he, therefore, merely masks the fact that, indirectly, he has invested in Ripple.
While Buffett mocks the majority of cryptocurrencies and their supporting companies, his words about bitcoin this week talking about his investment strategy. In an interview with Yahoo Finance, Buffett noticed that if you buy something with bitcoin or other cryptocurrency, you don’t get the constant profit from the production and remains just hope that the next buyer will pay more. And although he openly admits that he knows little about the technology of the blockchain, in the past he has mentioned that he will buy each of cryptocurrency to the test for a period of five years. However, the strategy “buy and store” the currency has a number of items which, apparently, contradict his opinion with respect to the scene alithinou.
Warren Buffett is invested directly in a number of financial institutions. From Bank of America to Wells Fargo. All of these long-term holdings constitute a significant part of the last traded stock in its portfolio. Although Bank of America recently acknowledged that cryptocurrencies are a threat to their business model (surprising, given that these coins do not produce anything), other institutions are experimenting with cryptocurrencies and blockchain technology as a way to rethink payments.
The number of financial institutions using the technology of the blockchain, namely, Ripple (XRP), to facilitate cross-border transactions is growing every day. Starts revolution payment systems around the world, and such a reliable product that is a Ripple, it seems, will change the old warning Buffett.
One such example is the Bank of new York, BNY Mellon. In a recent report, the Bank in which Buffett is directly or indirectly invested, expresses optimism about technology legerov. In an effort to “reinvent the payments,” BNY Mellon sees potential in using the technology of the blockchain. And the Bank of new York does not stop there, indeed, they called Ripple and Protocol Interledger as a potential standard in this technology.
As Warren Buffett narrows his attacks with the whole market of altcoins, just bitcoin, maybe he realizes that even just investing in the currency could spur the shares of its direct shares in the banking industry.
The same news, only to Telegram. Without advertisements and spam.
The post Why Ripple can change the opinion of Warren Buffett? appeared first on Cryptocurrency Ripple (XRP): news, course, the forecast value.