Editor's PiCK
Berkshire Hathaway Increases Stake in 'Nubank', a Crypto-Related Bank
Summary
- Berkshire Hathaway is known to have increased its stake in the Brazilian digital bank Nubank from 0.1% in 2022 to 0.4% in 2023.
- Nubank, which launched a cryptocurrency platform in 2022, has seen its stock price rise 34% over the past year.
- Berkshire Hathaway's additional purchase of Nubank is reported to contrast with Buffett's negative stance on cryptocurrencies.
It has been confirmed that Berkshire Hathaway, led by the 'investment genius' Warren Buffett, has increased its stake in the Brazilian digital bank Nubank.
According to Fortune on the 23rd, Berkshire Hathaway increased its stake in Nubank from 0.1% in the fourth quarter of 2022 to 0.4% in the third quarter of last year, an increase of 0.3 percentage points. The stake in Nubank held by Berkshire Hathaway amounts to $1.2 billion (approximately 1.7 trillion KRW). Fortune noted, "Nubank's stock price has risen 34% over the past year."
Nubank is a Brazilian digital bank that launched a cryptocurrency platform in 2022. Berkshire Hathaway first invested in Nubank in 2021, with an investment amount of $500 million at that time.
Fortune pointed out that Berkshire Hathaway's investment in Nubank contradicts Buffett's stance on cryptocurrencies. Buffett once described Bitcoin (BTC) as "rat poison" at the 2018 Berkshire Hathaway shareholders meeting. He also stated in 2022 that he "wouldn't buy all the Bitcoin in the world even if it were offered for $25."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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