Saturday, December 2, 2023

Warren Buffett puts $1 billion into a Bitcoin-friendly neobank

For the first time, billionaire investor Warren Buffet seems to be favoring crypto and investing in entities that promote cryptocurrencies. In a recent reshuffle, Berkshire Hathaway sold off a significant portion of its holdings in Visa and Mastercard and ramped up investments in Nubank. Nubank is a new-age bank in Brazil that is known to favor cryptocurrencies. In the past, Buffet had downplayed the importance of crypto and called it an asset that does not create anything new. That opinion seems to be changing as Berkshire Hathaway now has multiple holdings of firms that are active in the crypto space. A recent report revealed that Berkshire Hathaway has bought Nubank stocks worth $1 billion and sold off a substantial share of Visa and Mastercard stocks. Nubank recently went public in the US stock exchange with a valuation of $41.5 billion.

Buffet, also known as the Oracle of Omaha, is known for his mystical approach to stock investing. He has historically invested in companies that have beat the recession and shown immense growth. As he invests heavily in the crypto space, it might be a sign of something bigger to come. Institutional players have entered the crypto space aggressively over the past few years. However, many institutional players are still wary of getting into the crypto space via direct engagement, that is, buying Bitcoin or other cryptos. Investing in companies with a vested interest in crypto has come up as a viable alternative. With fresh investment in Nubankl, Buffet and his company seem to be doing exactly that.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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