Four years after calling Bitcoin “rat poison squared” and warning investors against it, Warren Buffett’s Berkshire Hathaway has purchased $1 billion in shares of a digital bank named NuBank, a Brazil-based crypto-friendly start-up.
That’s according to the latest Securities and Exchange Commission (SEC) filing by Buffett’s company.
Berkshire Hathaway also purchased a $500-million stake in NuBank several months before it went public in December 2021. The lender raised $2.6 billion in its New York IPO, valuing the fintech firm at over $40 billion.
Buffett, Berkshire’s chairman and CEO, has been one of the most active critics of cryptocurrencies. The billionaire investor had previously bashed bitcoin for being an asset that “does not create anything.”
READ MORE: ‘Big guns’ of global financial world dumping US dollar in favor of bitcoin & gold – Max Keiser
He also called the cryptocurrency “rat poison” and said that bitcoin stands for nothing more than a “delusion that attracts charlatans”.
Buffett’s longtime partner and Berkshire vice chairman Charlie Munger has said he wished cryptocurrency had never been invented and also described digital currency as “beneath contempt.”
© 2022, paradox. All rights reserved.
The man who critically injured Slovak Prime Minister Robert Fico on Wednesday was a fierce…
The Asia-Pacific region should be free of military blocs because of their potential to undermine…
Russian President Vladimir Putin was welcomed with an honor guard after his plane touched down…
Russian President Vladimir Putin has set the stage for his state visit to China by…
С каждым днем онлайн-казино становятся все более популярными среди азартных игроков. И это вполне логично:…
Russian President Vladimir Putin has officially appointed Andrey Belousov as the new minister of defense.Belousov,…