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Nonagenarian Billionaire Warren Buffett Increases Investment in Ripple Partner Company

Warren Buffet, the legendary investor and cryptocurrency critic, plans to increase his stake in Japanese companies including Sumitomo Corporation, a top partner of Ripple.

Buffet's company, Berkshire Hathaway, acquired a 5% stake in Sumitomo in August, and plans to increase its stakes despite the company's affiliation with crypto, which Buffet has referred to as "rat poison squared." Sumitomo is closely affiliated with Ripple, with its financial arm, Sumitomo Mitsui Banking Corporation, being a member of SBI Ripple Asia's Consortium of Banks and investing in Ripple's MoneyTap application.

This news could bring additional positivity to XRP, which is already performing well in the crypto market. Despite Buffet's criticism of crypto, he appears to be sticking to a company with close ties to a leading blockchain company and crypto project.

XRP XRP $2.21
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