Recent disclosures from the U.S. Securities and Exchange Commission (SEC) indicate that Berkshire Hathaway has significantly increased its investment in Brazilian digital bank Nu Holdings. The stake rose from 0.1% in Q4 2022 to 0.4% by Q3 of the 2024 fiscal year, amounting to over 86 million shares valued at almost $1.2 billion. In the last year, the stock price of Nu Holdings surged by 34%, reflecting growing confidence in its business model.
Berkshire’s initial investment of $500 million in the 2021 G round, followed by $250 million, was aimed at bolstering Nu Holdings, which launched its cryptocurrency platform, Nubank Cripto, in 2022. This platform supports major cryptocurrencies including Bitcoin, Ethereum, Polygon, and more recently, Uniswap and Chainlink, enabling users to easily transact within the digital asset space.
This shift in strategy is notable considering Warren Buffett’s historical skepticism towards cryptocurrencies, having labeled Bitcoin as “rat poison squared” during the 2018 Berkshire Hathaway shareholder meeting. His previous statements, including a refusal to consider Bitcoin even at a price of $25, highlight the evolving landscape of institutional investment in cryptocurrencies.
Source: https://en.coinotag.com/breakingnews/berkshire-hathaway-boosts-nu-holdings-investment-as-cryptocurrency-platform-nubank-cripto-expands-support-for-bitcoin-and-more/