Key message: Warren Buffett, a long-time opponent of Bitcoin and cryptocurrencies in general, has invested half a billion USD in digital bank Nubank, which plans to offer bitcoin ETFs in the future.
Nubank, BTC and Warren Buffet
Warren Buffett’s Berkshire Hathaway invested $500 million in Brazilian digital bank Nubank. Nubank bought brokerage firm Easynvest and together the two financial firms plan to offer bitcoin ETF investments to their customers. Nubank and Easynvest have been in talks since the fall of 2020 and the acquisition is expected to happen later this year.
Buffett is a prominent and long-time opponent of Bitcoin. In an interview a few years ago, he referred to Bitcoin as “rat poison squared,” which was not the only negative remark against Bitcoin. Similarly, his close associate Charlie Munger has called Bitcoin’s development disgusting and contrary to the interests of civilization.
So it is interesting to see that it is Buffett who has decided to make such a huge investment in a digital bank that plans to offer customers investments in bitcoin ETFs. Maybe Warren Buffett started slowly changing his opinion about Bitcoin and cryptocurrencies. We will see what future will bring us.