Buffett Slams Crypto Site Using Berkshire Name
Berkshire Hathaway Inc., run by billionaire Warren Buffett has warned investors it has no affiliation with a cryptocurrency brokerage website using the Berkshire Hathaway name, Jonathan Stempel reported for Reuters.
Photo Insert: "The entity who has this web address has no affiliation with Berkshire Hathaway Inc. or its Chairman and CEO, Warren E. Buffett," Berkshire said.
The website describes its operator as a Texas-based broker founded in 2020 to give investors "an opportunity to achieve a completely passive income from investment in cryptocurrency mining."
It includes customer testimonials and says the broker is regulated in the US, UK, Cyprus, and South Africa, using incorrect names for two regulators. Its email format differs from that of Buffett's company.
Buffett has long been skeptical of cryptocurrency, and in 2018 called bitcoin "rat poison squared." In a statement, Buffett's company said it learned about the website, berkshirehathawaytx.com, on Friday afternoon.
"The entity who has this web address has no affiliation with Berkshire Hathaway Inc. or its Chairman and CEO, Warren E. Buffett," Berkshire said.
Buffett has run Berkshire Hathaway Inc since 1965.The Omaha, Nebraska-based conglomerate owns several dozen companies including the BNSF railroad and Geico auto insurer, and as of Sept. 30 owned more than $306 billion in stocks.