Ifeanyi Jesse 
Warren Buffett Invests in Japanese Ripple Partner
Even though Warren Buffett might not be a big fan of cryptocurrencies but his company, Berkshire Hathaway, has increased its stake in a Japanese company that is a partner of Ripple.
Buffett has put more money into five Japanese companies, including Sumitomo Corporation. Sumitomo Mitsui Banking Corporation is part of Sumitomo Corp., which deals with money.
The SBI Ripple Asia Consortium of Banks includes the Sumitomo Mitsui Banking Corporation. In July 2017, the company became part of the group. Also, Sumitomo Mitsui Banking Corporation owns about 9.9% of SBI Holdings, which is Ripple’s most prominent shareholder from outside of Japan.
👀Buffet is back buying more Japanese financial stocks. 1 of the 5 companies is Sumitomo Corporation. This hits close to home for Ripple, R3 & $XRP Holders, with Sumitomo Corp financial arm = Sumitomo Mitsui Financial Group, which owns approx 9.9% of SBI Holdings, (largest…
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) April 11, 2023
Buffett Raises His Stake in Sumitomo Corp
People often say that Warren Buffett doesn’t believe in cryptocurrencies. But that hasn’t stopped the trader from putting money into companies that deal with cryptocurrencies.
Warren Buffett told Nikkei Asia that he was happy with the first money he put into Sumitomo Corp. Buffett raised his firm’s stake in the company because of how well it was doing. Based on how well its first investment worked out, Berkshire Hathaway increased its stake in the big Japanese trading company in November.
Investment Despite Ripple Legal Battle
Even though Warren Buffett hasn’t said he is bullish on Ripple, he probably knows about the cryptocurrency company’s legal battle with the SEC (Securities and Exchange Commission). Also, Buffett has a lot of experience trading and investing. He probably won’t invest in a business being sued and might not win.
Since December 2020, Ripple has been in a fight with the SEC. Many people think a decision will be made this year. Several lawyers and other experts have also said that Ripple might win. The lawsuit should also make it more transparent which assets are securities and which are not.