"Hmm, you mean Buffett doesn't really hate crypto, right?"
Although Warren Buffett is a strong critic of crypto, the company he founded Berkshire Hathaway has invested in five Japanese companies, one of which is Sumitomo Corporation which happens to be a partner of Ripple.
Explained in more detail, Sumitomo Corp's subsidiary Sumitomo Mitsui Banking Corporation is part of the SBI Ripple Asia Bank Consortium.
The corporation joined the consortium in July 2017, where it owns around 9.9% of the following SBI shares and is Ripple's largest outside shareholder.
It is already known that Buffett does not believe in crypto, but he is still interested in investing in companies exposed to digital assets and is very happy that his initial investment was in Sumitomo Corp.
In addition to the profit obtained by Buffett during his initial investment, he was found interested in buying more shares of Sumitomo Corp following the encouraging performance that the company has always displayed.
Although Buffett refuses to reveal whether he believes in Ripple or not, Buffett may already know the crypto company has a legal battle with the Securities and Exchange Commission (SEC) but he believes they will win.
For context, Ripple's fight with the SEC has been going on since December 2020 but some lawyers and experts expect that the crypto company will find its breakthrough in the near future.
