Bitcoin News Thursday, May 10 Billionaire warren buffett, Of berkshire hathaway, Dow jones & more…

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Buffett ‘Disciple’ Condemns Investor’s Views On Bitcoin

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  • Venture capitalist Chamath Palihapitiya says billionaire Warren Buffett is wrong about bitcoin, though he calls himself Buffett’s disciple.
  • Venture capitalistChamath Palihapitiya has countered billionaire Warren Buffett’s recent derogatory statements on bitcoin, stating that the cryptocurrency is important.
  • His comments come after Buffett, the chairman and CEO ofBerkshire Hathaway, argued that bitcoin is more of a gamble than an investmentat the end of April, and then, last weekend at a shareholders’ meeting, he said bitcoin is probably rat poison squared.
  • While calling himselfa Buffett disciple, Palihapitiya told CNBC that Buffett is wrong about bitcoin.
  • $9K Still in Play Despite Bitcoin Rally – – Not everybody is right all the time, he told the news source, further suggesting thatthat knowledge about technology is not in Buffett’s circle of competence.

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Every investor should buy crypto, says digital currency index founder

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  • It’s almost essential for every investor to have at least 1% to 2% of their portfolio in crypto, Novogratz, the CEO and Founder of Galaxy Digital Capital Management, told Maggie Lake on Markets Now on Wednesday.
  • Novogratz, formerly a hedge fund manager at Fortress Investment Group and Goldman Sachs partner, said in 2017 that he invested 10% of his net worth in digital currencies.
  • Related: Why Nasdaq’s CEO is bullish on cryptocurrencies – – Traditional financial institutions are looking for ways to help traditional investors bet on Bitcoin.
  • Novogratz said he predicts that the New York Stock Exchange will be involved in cryptocurrency trading within six months.
  • Markets Now, featuring insightful interviews and commentary on the markets and financial news, streams live from the floor of the New York Stock Exchange every Wednesday at 12:45 p.m. ET.

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Cryptocurrencies as a payment system are ‘troubling,” Bank of America tech officer says

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  • Cryptocurrencies are standing in the way of authorities catching bad guys who are using payment systems for nefarious purposes, a Bank of America official said Thursday.
  • In fact [it’s] designed to be not transparent, Bessant said on CNBC’s Squawk Box.
  • Just like we don’t allow stocks to be purchased on our credit cards, we’re not going to allow cryptos or other currencies to be purchased on our credit cards, Bessant said.
  • Using the good guy-bad guy analogy again, she said during a chat with CNBC’s Kayla Tausche that the relationship is clear with someone robbing a bank, but less so with someone stealing data.
  • Often times the hacker or the person who causes the leak and steals the data are considered heroic, Bessant said.

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A cryptocurrency is going to take over the word. But it’s not bitcoin, says Trump advisor

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  • There is a pressing need for a global cryptocurrency but it will not be bitcoin, according to a former advisor to Donald Trump.
  • The former chief economic advisor, who resigned from the Trump administration in early March, said in an interview on this weekthat bitcoins underlying blockchain technology was more interesting than the actual virtual currency.
  • As the worlds first cryptocurrency, bitcoin was the first to make use of the blockchainan online ledger that serves as a permanent record of all transactions for the digital currency.
  • His former employer is the first major Wall Street bank to open a bitcoin trading desk, having succumbed to pressure from clients enthusiastic about cryptocurrency.
  • Looking beyond bitcoin, Mr Cohn said a system is needed that is able to meet the challenges required for a global cryptocurrency.

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The Inside Story of How Walmart Won Over Flipkart: DealBook Briefing

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  • Novartis was worried about Mr. Trump moving against the Affordable Care Act and promising to cut drug prices.
  • Mr. Cohen helped Squire Patton Boggs land a client: U.S. Immigration Fund, which connects American businesses with foreign investors and which the WSJ says has ties to Kushner Companies.
  • The WSJ reports that Apple and Goldman are teaming up to launch a new joint credit card.
  • In Iran: Oil prices changed little after Mr. Trump withdrew from the nuclear deal, but businesses are watching how tightly his administration enforces renewed sanctions.
  • President Trump wants pharmaceutical companies to charge more abroad to cut prices in the U.S.

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[/vc_column_text] [vc_column_text el_class=”topfeed-embedly”] The Inside Story of How Walmart Won Over Flipkart: DealBook Briefing [/vc_column_text] [/vc_column] [/vc_row]