The man who called Bitcoin "rat poison squared".......

If you follow my blogs, it is no surprised that I have criticized Buffett and alike about their stupid view on Bitcoin. Here is my latest one early this year:

One is those who are genuinely ignorant about this new tech revolution and cannot really understand it. Buffett is typically one of such guys, who called bitcoin "rat poison". I can only laugh about his ignorance about bitcoin, just like his ignorance about the value of gold.

Now I have just learned that there is a stunning about-face for Buffett, a man who once slammed bitcoin as "rat poison squared..."  

Yet, in June, Berkshire Hathaway (BRK-B) made a $500 million pre-IPO investment in the parent company of Nubank – a digital bank based in Brazil. Nubank says it has 40 million customers... making it the largest digital bank in the world in terms of the number of clients. And it will soon offer those clients bitcoin services.

Of course, you may argue that this is not what Buffett had done personally but someone from his team. Still, if he is really so strong against Bitcoin, I don't think he would even allow his team to do any investment in this area, right?

Now another big news from the Fed. 

Yesterday, Fed Chairman Jerome Powell spoke at a two-hour long House Financial Services Committee meeting.

Representative Ted Budd (R-N.C.) questioned Powell on his statements from July.

In July, Powell had said that the US development of central bank digital currencies (CBDC) would eliminate the need for cryptocurrencies.

He said, "That, in particular, you wouldn't need stablecoins, you wouldn't need cryptocurrencies if you had a digital U.S. currency - I think that's one of the stronger arguments in its favor."

So Budd questioned Powell if that statement means the Fed will "ban or limit the use of cryptocurrencies."

Powell responded, "No... no intention to ban them."

I'm not sure if this was the trigger for today's big runup for Bitcoin and all the cryptos but this is certainly very positive news for crypto lovers as it has been one of the biggest concerns that the US might ban cryptos as what China has done. Even though there is no way the US can really ban cryptos unless it can eliminate the Internet completely in the world, it would still be a huge detrimental psyche impact to the crypto world if this had happened. So a kind of a big relief I guess although I'm always laughing at those who nervously sell cryptos simply because of those stupid comments from the security regulatory officals in the US or gloablly. To me those selloffs are always a great opportunity to add more coins. I literally have placed a limit order for Bitcoin at $42K and ETH at $3000 lately and happily got additional coins in the past two weeks with the prices I loved to get!😄 

If you want to sell more, let me know and I will gladly get your coins for a cheap price😜🤗