Is Buffett shifting towards crypto?

Warren Buffett is one of the biggest and most vocal "haters" of cryptocurrencies. However, his company, Berkshire Hathaway, has invested about $1 billion to Nubank, which is the largest fintech bank in Brazil. What is interesting is that this bank is crypto friendly, which means that now Buffett has an indirect expousure to cryptocurrencies.

Comments are closed.

More market movers from category

Almost 60 000 Teslas with a glitch?

According to Germany's road traffic agency, almost 60 000 Teslas model Y and 3 may have a glitch. The software flaw can cause a breakdown of the eCall, which are designed to contact emergency responders in the event of a serious accident. KBA, the German watchdog that specified found this glitch, stated that 59 129 vehicles can have this problem.

S&P 500 with a horrific result

Bitcoin is not the only asset that is having bad time now. The same applies for one of the biggest US indices, S&P 500, which has just ended the first half of the year down 20.6 %. This is the worst start to a year since 1962.

Worst first half of the year in 50 years

According to the recent numbers, the S&P 500 is on its way to close one of its worst first halves of the year in history. With about 20 % of the value of the index erased from January till June, S&P 500 is heading to the worst close of the first half of they year since 1970. Whether the loss can go even deeper depends solely on today's close.

Howard Marks looking for bargains

Founder of Oaktree Capital, Howard Marks, have specified today that now is the time for bargain hunting. He stated that as of today, he is starting to behave more aggressively, since everything is significantly cheaper as it was a year ago. Thus, he believes that now is the time to start buying.

Revlon the new Hertz?

Meme stocks were extremely popular last year, when huge number of retail investors tried to outpace huge hedge funds. It appears that some retail investors have stayed in this game and are now trying to profit from the bankruptcy filing of Revlon the same way they did with Hertz. Yet, bets like these are highly speculative and dangerous.

Congressional panel wants new trading rules

Congressional report that was released today calls for more regulations for Wall Street. The US Congressional panel has stated this amid the "meme-stock" trading saga that happened in January 2021. Robinhood was singled out for its troubling business practices and, according to the report, regulators need to step up the scrutiny of the company.

More market movers

Duke Energy exploring Bitcoin mining

Duke Energy, the second largest power company in the United States, is reportedly studying Bitcoin mining. The results of this research should help the company with onboarding of the miners on the grid. Before that, the company is going to test its findings on micro-grid with different energy sources.

Almost 60 000 Teslas with a glitch?

According to Germany's road traffic agency, almost 60 000 Teslas model Y and 3 may have a glitch. The software flaw can cause a breakdown of the eCall, which are designed to contact emergency responders in the event of a serious accident. KBA, the German watchdog that specified found this glitch, stated that 59 129 vehicles can have this problem.

Credit card interest rates on a rise

Matt Schulz, chief credit analyst for LendingTree, has recently stated that the average annual percentage rates (APR) for new credit cards reached record levels. The borrowing rate rose to 20 % as of June, more than 6% increase from the pre-pandemic levels. Schulz also stated that he believes that this is nowhere near the top.

3AC filing for bankruptcy in the US

Three Arrows Capital, one of the biggest crypto hedge funds, has been in rather unpleasant conditions for few weeks now. The situation forced 3AC to file for bankruptcy in the United States. The step should protect the company from losing assets to liquidators as it protects US assets. The future of the company remains uncertain.

S&P 500 with a horrific result

Bitcoin is not the only asset that is having bad time now. The same applies for one of the biggest US indices, S&P 500, which has just ended the first half of the year down 20.6 %. This is the worst start to a year since 1962.

Copper sinks below 8 000 dollars

Copper has just sunk below 8 000 dollars a ton, the lowest price in more than 18 months. It is likely that Copper, just like other industrial metals will fall in the price in the coming days and weeks mostly due to the fears of the incoming global financial recession.

News

Crypto news summary: Facebook, MicroStrategy and Opensea

In the last week, Facebook announced the testing of NFTs on profiles, Opensea got hacked, Microstrategy bought more Bitcoin, and much more.

Weekly macro report – Bonds reached some gains

In our latest macro report, we remain positively aimed at bonds with long-term maturities, while giving updates in the US and EA policies.

India imposes windfall tax on oil firms

India has imposed a windfall tax on the country's oil producers and refiners who are exporting more due to high international prices.

EU approves regulatory measures to tame the crypto industry

After years of debating, European Union broke down rules and regulations on the crypto industry, including anti money laundering rules.