Warren Buffett’s Berkshire invests $1 billion in crypto-friendly Nubank
cnbctv18.comLegendary investor Warren Buffett’s Berkshire Hathaway has bought $1 billion worth of stock in Nubank, one of Brazil’s largest fintech banks focussed on cryptocurrencies.This is not Berkshire’s first investment in Nubank. Buffett’s firm reportedly acquired 30 million Nubank shares for $250 million in December 2021 when the latter went public.
At that time, Nubank's valuation reached $41.5 billion, per a Coindesk report. Berkshire had also bought a stake worth $500 million in the company in June 2021.The investments are interesting given Buffett, also called the ‘sage of Omaha’, has always been against cryptocurrency and has even called it ‘rat poison’.“If you buy something like Bitcoin or some cryptocurrency, you don't have anything that is producing anything, you’re just hoping the next guy pays more.
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