Charlie Munger, vice chairman of American holding company Berkshire Hathaway, lambasted Bitcoin during the firm’s annual shareholder meeting yesterday, calling it a “disgusting” financial product that was invented “out of thin air.” “Of course I hate the Bitcoin success,” said during a Q&A session, adding, “I don’t welcome a currency that’s so useful to kidnappers […]
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Tag: Investments
Bitcoin is a ‘disgusting’ product that comes ‘out of thin air,’ says Charlie Munger
“I hate the Bitcoin success, and I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth,” said the billionaire.
Andreessen Horowitz considers launching crypto-centric $1 billion venture fund
Silicon Valley venture capital giant Andreessen Horowitz (a16z) plans to launch a new $1 billion fund focused on investments in cryptocurrencies and blockchain startups, several knowledgeable sources told Financial Times yesterday.
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This venture capitalist’s $2.5 million investment in Coinbase turned into $4.6 billion
Eight years ago, Fred Wilson, a co-founder of New York-based venture capital firm Union Square Ventures, invested $2.5 million in then-unknown crypto exchange Coinbase—and that recently became the company’s most profitable exit, Bloomberg pointed out yesterday.
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Ripple (XRP) could reportedly IPO after the U.S. SEC case settles
Payments firm Ripple could reportedly go public soon after its ongoing case with the United States Securities and Exchange Commission (SEC) is settled, a report on Finance Feeds said today. In December 2020, Ripple was charged with the unlawful sale of $1.3 billion worth of unregistered security, a case that continues till today.
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US bank BNY Mellon blames “no exposure to Bitcoin” for fund underperformance
US bank BNY Mellon says one of its technology-focused funds had underperformed the market because it wasn’t exposed to companies investing in Bitcoin, a filing from yesterday showed.
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Tokyo-listed gaming giant Nexon invests $100 million in Bitcoin (BTC)
South Korean–Japanese game maker Nexon today announced a $100 million investment in Bitcoin (BTC), the world’s largest cryptocurrency by market cap, as per a release.
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Barstool Sports president Dave Portnoy buys Bitcoin…again
Dave Portnoy, president of pop-culture and sports-focused media company Barstool Sports, today revealed that he bought one Bitcoin—after swearing that he will never do it two months ago.
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Investor who predicted a $400,000 Bitcoin is now calling for a 50% drop
Scott Minerd, chief investment officer of famed investment firm Guggenheim Partners’, says Bitcoin (BTC) could see a 50% drop in the near term as it’s run ‘too far, too fast.’ He made the comments in an appearance on CNBC show Worldwide Exchange yesterday.
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Regulated Bitcoin and Ethereum funds have launched in Hong Kong
Hong Kong-based Huobi Asset Management announced the launch of Bitcoin (BTC), Ethereum (ETH), and mining-related funds for professional investors yesterday, it said in a release shared with CryptoSlate.
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