Labeled Bitcoin’s number one enemy earlier this year To Peter thiel, Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett Thanks to his investment, he now owns a stake in Bitcoin.
What happened: Berkshire Hathaway, June 2021 Invested Brazilian digital bank Nubank for $ 500 million.Buffett’s Berkshire Hathaway was added to his position in Digital Banking when the company was published as follows: New Holdings NU December 2021.
For months, many have pointed out that Nubank is a crypto-friendly bank and could give Buffett exposure to crypto trading.Nubank start up Cryptocurrency transactions Bitcoin BTC / USD When Ethereum ETH / USD According to a CoinDesk report, the bank’s parent company also allocates 1% of its cash to Bitcoin for millions of users.
Some Nubank users can buy and sell Bitcoin and Ethereum as of last week. The trading platform will be available to all users by the end of July. Additional cryptocurrencies will be added to the platform in the future.
Nubank has offered several ETFs to clients who have previously given their investment exposure to cryptocurrencies.
“There is no doubt that cryptocurrencies are a growing trend in Latin America. We believe that we are following closely and will have a transformative impact on the region,” said Nubank CEO. David Beres Said.
Nubank has 53.9 million users in Brazil and other Latin American countries.
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Important reason: Berkshire Hathaway Own Nu Holdings shares worth more than $ 1 billion.
Buffett and Berkshire Vice President Charlie Munger A frank critic of cryptocurrencies, including Bitcoin.
Buffett called the square of the famous Bitcoin rat poison.Buffett Said Berkshire shareholders said they wouldn’t buy Bitcoin when it fell to $ 25.
Munger also talked about Bitcoin at the annual shareholders meeting.
“When you have your own severance pay account and your friendly adviser suggests that you put all your money into Bitcoin, just say no,” Manger said. ..
Through its widespread investment, Berkshire Hathaway may be indirectly exposed to Bitcoin and cryptocurrencies as more companies become more compatible with cryptocurrencies. Berkshire Hathaway Visa Inc VGive buffett Partial ownership of CryptoPunk NFT.
Price action: Berkshire Hathaway is one of the few positive large-capitalization stocks in 2022, up 3% to date.
Bitcoin is trading at $ 29,410.12 at the time of writing and has lost 18% of its value in the last 7 days.
Photo: Created with images from Aron Friedman With Flickr
