Reading Time: 2 minutes

The legendary investor Warren Buffet invested a US$600 millions in two fintechs. Each one received US$300 millions in operations the contribution has announced in the end of october and in beginning to november. One week before, the investor announced the acquisition of shares of Stone Pagamentos, a brazilian company focused in payment process. The movement was interpreted by the market as a step in the direction to the crypto world. But, it’s really true? The Crypto News Media analysed this subject.

Berkshire Hathaway is a multinational investment conglomerate widely known for the investment in insurance companies and in big companies as Coca-Cola. Therefore, the addiction of Stone Pagamentos and other two fintechs to the portfolio means a change of vision. The brazilian company already did some research about the application of crypto technology in payment process. Despite those acquisition, is too soon to assert that Buffet is going in the crypto world direction.

In the past, Buffett has done several critics to this asset class. First he told that bitcoin was a bubble close to bursting. Then, he told that no one of the 2 thousand cryptocurrencies has a real value because they don’t have any product or physical value to offer. Also, he completed saying that the bitcoin price is determined by how much the next buyer is willing to pay.

Where is the value of cryptocurrencies?

In fact, many cryptocurrencies haven’t a structure to avoid volatility. But, his price is strongly based in the basic law of the market; supply and demand. So if the investors believes that this asset have value, they will still buying cryptocurrencies. Isn’t necessary say that the technology of cryptocurrencies already proved his values many times. On the other hand, the main feature of Buffet is his long-term investments. So, just the future can show if it is just a impression or if he is giving his first step in the crypto market.