Warren Buffett invested $1 billion in Nubank working with crypto
Back in 2021, his company was already buying shares in the bank for $500 million
17.02.2022 - 13:40
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What’s new? Warren Buffett, known for his unflattering remarks about cryptocurrencies, has now invested $1 billion in the digital bank Nubank, based in Brazil. Buffett’s company Berkshire Hathaway bought shares in the blockchain-based bank. And earlier this week, the organization disclosed its investments to the US Securities and Exchange Commission.
Information on the Fortune website
What had happened before? Although the company’s owner has long been a critic of the digital asset market, this is not the first time Berkshire Hathaway has invested in Nubank. The organization had previously bought $500 million worth of shares in Nubank in 2021.
What is known about the bank? Nubank is a bank that does not operate under the traditional banking system. Unlike others, it allows the use of cryptocurrency in its operations and offers products such as bitcoin ETFs. Nubank co-founder Cristina Junqueira previously stated:
“There is so much opportunity in the [Latin America] region. Worldwide there is no place that is better suited in terms of having a great opportunity for fintech companies to tackle.”
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