Warren Buffett, often revered as the Oracle of Omaha, has never shied away from expressing his skepticism towards Bitcoin. He once doubted Bitcoin and other cryptos as “gambling tokens” with no intrinsic value.

However, the tide seems to be turning, albeit inadvertently, as Buffett’s investment in Nubank propels him into the crypto industry.

Warren Buffett’s Indirect Bitcoin Venture Pays Off

In 2021, ahead of its Initial Public Offering (IPO), Warren Buffett’s Berkshire Hathaway invested $500 million in Nubank, a Brazil-based digital bank. This fintech marvel facilitates traditional banking services and allows customers to trade Bitcoin and other cryptos.

Following the IPO, Berkshire Hathaway further invested $250 million into Nubank, bringing the total investment to $750 million. The position’s value stands at $840 million today, provided Berkshire has not purchased or sold any shares since the close of the second quarter.

Nubank leaped further into the crypto industry by launching its altcoin, Nucoin, earlier this year. The move has been nothing short of a financial crescendo. With a surge in its stock price by over 100% this year, Nubank’s market performance has overshadowed other heavyweight holdings in Buffett’s portfolio. These include titans like Amazon, Apple, Coca-Cola, Bank of America, and Kraft Heinz.

Read more: 9 Best Bitcoin Exchanges and Platforms in 2023

As the global financial markets navigate through turbulent waters, Buffett’s indirect association with crypto through Nubank is ironic. This investment has bolstered Berkshire Hathaway’s financial standing amidst a potential $17.7 tr

Go to Source to See Full Article
Author: Bary Rahma

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details