Warren Buffet’s Berkshire Hathaway has invested $500 million in digital bank parent company Nubank, a privately held digital bank. which offers users crypto-currency investment products.
According to CNBC, Nubank is a privately held bank based in Brazil that was founded in 2013 and has about 40 million customers, the company’s CEO said, currently planning an initial public offering. But there is a possibility in the future.
The $500 million investment is outstanding. Because Buffett is a well known Bitcoin critic. which in the past referred to digital currency as They argued that they were worthless because they didn’t produce anything. Investors have made a similar case with gold.
The digital bank acquired Easynvest, a digital investment platform, late last year. This platform allows anyone to invest without paying commissions. and provides users with access to bitcoin funds and trading products, including 3iQ’s QBTC bitcoin investment product.
Berkshire Hathaway has made significant investments in financial firms in the past. Traditional banks and insurance companies make up the majority of their portfolios. Buffett has sold most of his stake in Wells Fargo.
Last year, the ‘Oracle of Omaha’ invested in gold mining company Barrick Gold, but apparently sold his stake a few months later. For investors, gold and bitcoin are non-productive assets. Unlike a business or a farm When investors buy these assets, he said, they simply count on the next person to pay more for them as “an asset itself if nothing is built.”
opinions and opinions expressed by the author or any person mentioned in this article It is for informational purposes only. and does not constitute financial, investment or other advice. Investing or trading in digital assets involves the risk of financial loss.