On 22 January 2025, Nebraska- headquartered Berkshire Hathaway took its first step in the crypto space and invested heavily in Brazilian crypto-linked bank.
Berkshire Hathaway reportedly put in millions in Nu Holdings Ltd, whose shares went up 27% year on year, according to a Fortune report.
Berkshire Hathaway CEO and chairman Warren Buffett holds over 86 million shares in the company, as of the third quarter of 2024. These are valued at $1.179 billion, according to Benzinga.
However, in the past, Berkshire Hathaway CEO and chairman Warren Buffett has called Bitcoin “probably rat poison squared.” In fact, for the longest time, the legendary investor has been one of the most vocal critics of cryptocurrencies.
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Berkshire Hathaway Reassess Its Position
Berkshire Hathaway Doubles Down on Nubank
Warren Buffett’s Berkshire Hathaway upped its stake in Nubank, a Brazilian digital bank with crypto ties, from 0.1% in 2022 to 0.4% in 2023. That’s now worth $1.2 billion.
Nubank, which launched its crypto platform in 2022, has seen its… pic.twitter.com/jsj7gnce3m
— IBC Group Official (@ibcgroupio) January 23, 2025
Back in 2018, in a CNBC interview Buffett said, “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. We don’t own any, we’re not short any, we’ll never have a position in them.”
While details remain limited, the Berkshire Hathaway has reportedly invested in blockchain infrastructure companies and explored partnerships with firms specializing in digital asset custody and security.
Does this shift suggest that Buffett and his team may now view blockchain technology—and by extension, cryptocurrencies—as an unavoidable part of the financial landscape?
Buffett’s Berkshire Hathaway initially invested $500 million in Nubank in 2021 ahead of its IPO.
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Nubank Includes Uniswap and Chainlink
Meanwhile, Nubank is considering moving its domicile to the UK and expanding to the US soon. According to a 20 January 2025 Reuters report, Nubank founder and CEO David Velez said, “We are actively thinking what are some of the jurisdictions that make sense for us to consider, as we think about the next 10 years of global expansion.”
Furthermore, Velez is counting on Donald Trump’s administration and its friendly approach towards digital assets, to expand in the US.
Last year, Nubank launched cryptocurrency swap tool in its app.
“Nubank customers who hold cryptocurrencies will be able to trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for digital dollars USDC and vice versa,” the announcement said. “The new feature, integrated with Nubank Cripto, simplifies currency transactions through direct exchange.”
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The post Is Warren Buffett Changing His Stance On Crypto? Berkshire Hathaway Invests Millions In Crypto Bank appeared first on 99Bitcoins.
