It actually seems that boom in crypto has made the greatest investors for all time, Warren Buffett, who took a flip back on the given words. Almost, after 4 years of labeling Bitcoin being a rat poison square during Berkshire Hathaway in year 2018. This was done during the shareholder meeting and issuing warning against it to the investors. Now, Buffett apparently took a U-turn and he has invested almost one billion dollars in the Bank which is crypto-friendly.
Investment of $1 Billion in Bitcoin
Berkshire Hathaway, Buffett’s company had made the crypto investment public through the SEC filing. This filing has revealed that the company of Buffett has purchased about $1 billion in the shares of digital bank which is Brazil based named as Nubank, that is the biggest of their kind.
Nubank, that even known as neobank, is mainly a kind of bank which helps to operates outside from rules of traditional banking system. However, ‘crypto friendly’ and the investment unit of digital bank, NuInvest, permits the users to simply put money in the Bitcoin ETF or exchange-traded fund.
Astonishingly, the investment by in Bitcoin by Buffett’s company is not complete for first time. They have also dabbled in the market. Previous year, Berkshire already had bought the stake of $500 million in Bitcoin in Nubank, months prior to company when it became public in the month of December 2021.
Nubank also announced that Berkshire investment in Bitcoin had been biggest single investment for fintech bank which had received. On the other hand, Berkshire was also upping the investments in crypto sphere in the year 2021. The company even dropped other, traditional monetary assets. During latest SEC filing which has showed that $1 billion of the investment in Nubank. Where Berkshire even revealed that this had dropped for more than $3 billion in the shares for Mastercard and Visa.
