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Warren Buffett's Berkshire warns about crypto website using its name

The Berkshire 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."

November 19, 2022 / 02:02 PM IST

Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, on Friday warned investors it has no affiliation with a purported cryptocurrency brokerage website using the Berkshire Hathaway name.

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 purported customer testimonials and says the broker is regulated in the United States, United Kingdom, 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."