Bitcoin enemy Warren Buffett invests $500 million in Nubank which offers BTC ETFs
Berkshire Hathaway, owned by the enemy of Bitcoin, the billionaire Warren Buffett, has now decided to invest nothing more and nothing less than $500 million in a digital bank that is looking to offer a Bitcoin ETF to its clients.
As reported by CNBC, Berkshire Hathaway invested the huge amount in the Brazilian digital bank Nubank. The bank first appeared on CNBC’s Disruptor 50 list in 2021 and claims to have more than 40 million customers.
Warren Buffett's Berkshire Hathaway makes $500 million investment in Brazilian digital bank https://t.co/w99uJgwe9u
— CNBC (@CNBC) June 8, 2021
What has caught the media attention is that Nubank, in turn, has acquired the brokerage company Easynvest and, together, the two financial firms plan to offer their clients investments in Bitcoin ETFs.
Nubank and Easynvest have been negotiating since the last half of 2020 and the acquisition will take place later this year.
- After Buffett, Charlie Munger compares Bitcoin to louse and suggests it will fail
- Research: Bitcoin is in the investments of 46 million people in the United States
- Goldman Sachs releases Bitcoin investments to Wall Street
It is worth remembering that for many years, Buffett has referred to Bitcoin in a clearly derogatory way. His most famous phrase was in 2018 when he said that Bitcoin was “rat poison squared.” Since then, in many statements he has reiterated his criticism of the main cryptocurrency.
Not even Tron CEO Justin Sun, who won an auction to have dinner with him and gave him cryptocurrencies at lunch, managed to convince him.
Nubank operates in several Latin American countries, including Brazil, Colombia and Mexico.