For those who did not see the news yesterday, Warren Buffet and Berkshire Hathaway has now invested over a billion dollars in the Digital Bank Nubank. Although Nubank does not allow trading in cryptocurrencies, its investment unit, NuInvest, allows users to invest in crypto ETFs, [according to the company website]( (rumors also saying they will be diving into NFTs as well but that is not confirmed.
Quick Timeline of events:
In June 2021, [Berkshire Hathaway invested $500 million in Nubank]( by leading the extension of a Series G funding round.
Then in December 2021, Berkshire Hathaway bought another $1 billion in shares of Brazilian digital bank Nubank in the fourth quarter of 2021.
Why is this such a big deal? Huge company with lots of money to move and invest with, why should we care about this? Here is exactly why… Berkshire Hathaway also sold 1.27 million shares of VISA and 302,000 shares of Mastercard during this time frame to make this transitional buy. Now this is absolute massive because so far Buffet has been so anti crypto you would think his wife left him for Bitcoin or something. In fact, in 2018, Warren Buffett [called bitcoin “rat poison squared]( and repeatedly told his investors to stay away.
Warren Buffet is worth around 114 billion dollars and his generation look to him like the Jesus of investing. What he says go, his word is testament. My grandpa who is around his age, sent me articles about this acquisition yesterday and he has been so very anti crypto for years but now has interest! This is the power of Buffet to this generation.
Long story short, this tonal shift from Buffet is absolutely massive for the future of crypto and we could very well start to see some massive amounts of old money start flowing into crypto or crypto related stocks very soon.
Keep Hodling friends.