Warren Buffett warns about crypto exchange website using his name; “has no affiliation with Berkshire Hathaway”

Anyone who has heard of Warren Buffett would tell you that he’s one of the crypto skeptics who believe cryptocurrency is a Ponzi scheme with no intrinsic value. In 2018, Buffet called bitcoin “rat poison squared.”

In April, the legendary billionaire investor said in an interview that he wouldn’t take bitcoins if they were offered to him at $25 per bitcoin. Buffet added that bitcoin has no intrinsic value and that cryptocurrency “doesn’t produce anything.” But that has not stopped some shady investors from using his name to promote their new crypto exchange called Berkshire Hathaway.

On Friday, Buffet warned investors he has no affiliation with the purported Texas-based crypto brokerage website using the Berkshire Hathaway name.

The website describes its operator as a “Texas-based company created to give our investors the opportunity to achieve a completely passive income from investment in cryptocurrency mining.”

The site also 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.

In a statement, Buffett’s company said it learned about the website, berkshirehathawaytx.com, on Friday afternoon.

“The entity who has this web address has no affiliation with Berkshire Hathaway Inc or its Chairman and CEO, Warren E. Buffett,” Berkshire said.

On its About page, the operator describes itself as follows:

“Berkshire Hathaway is a global CFD and FX broker. It is regulated by several financial authorities, including the Financial Sector Conduct Authorities (FSCA), UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), FinCEN Department of the Treasury, United States of America. Berkshire Hathaway is considered safe to grow your Bitcoin and other cryptocurrencies at ease because it is regulated by the top-tier FCA. Berkshire Hathaway is a company founded in 2020 to give our investors the opportunity to achieve a completely passive income from investment in cryptocurrency mining. By investing in our mining plans, you can buy your share in the technical infrastructure for profitable mining.”