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.
I laugh at OPs attempt to connect an investment into Nubank (which is more a emerging market fintech play) as an indirect investment into crypto while a divestment out of VISA (which is actually looking to do crypto transactions) is somehow good for crypto.
Pack in some pure hopium in the post and I guess its par for the course at r/cc
>Although Nubank does not allow trading in cryptocurrencies, its investment unit, NuInvest, allows users to invest in crypto ETFs
Doesn’t seem like such a big win for Crypto to me.
It’s not a “Huge” win lmao. It’s just a win. I feel you are significantly over playing the result of this move.
This is a weird way to announce that Charlie munger has passed… 🧐
It’s honestly just a growth play from Berkshire. Visa is as friendly towards crypto as anywhere else, and fintech is a fast growing sphere. It’s a win for crypto in the sense that fintech expanding is a win for crypto
If biggest investor in this world becomes Pro crypto then it’s all over for Bears.
lol I remember talking to one of my mothers old wealthy friends and he kept asking me about Bitcoin. I asked him if he ever invested or was planning on it. Added in how he likes that 5-6% annual spy gain lol.
He told me he wouldn’t touch it unless Buffet invested.
**Here ya go**
Thats a nice perspective: The Jesus of investing of his generation. Maybe the old timers will dust of their wallets and replace it with a digital one.
The dude usually has some inside knowledge, so the odds are good something good will come of this
These are the people with *Real* wealth to Invest, just a matter of time when they also get in on Bitcoin.
I still don’t trust them
Classic confirmation bias. When he explicitly said BTC and crypto in general sucks people here were like “ah he doesnt know shit”, now that he bought a bank that somehow does something with crypto, they are like OMG Buffet hes the smartest guy ever BTC 100k 2021 !!!!1!1!1
The institution he puts his money on is still a bank. It’s just a sorta crypto-enabled bank, it doesn’t even allow you trade as you found out..
All I know is Waren Buffet brings a lot of media attention and that is directly good for Crypto
When Buffet and Munger admit they own Bitcoin (and admit they were bitches about it before), we can call it a win.
Nu has very little to do with crypto and will use all of the raised capital to loan out traditional products. I have met them before. Great company but the stock should be lower than it is today
Doesn’t sound like a big win for crypto.
Nubank has literally no ties with Crypto. I’m Brazilian and Nubank client and there’s nothing pro crypto about them.
There’s a crypto ETF that’s traded in one of its platforms, but you can find it in any Brazilian stock broker.
So that’s a lot of wishful thinking
Fake news!!
Im Brazilian and I use nubank. Never heard ANYTHING about crypto and then. Its a fucking great plataform overall.
Buffet is a genius. I just invested this morning. Crypto may not be the most stable currency, **HOWEVER it is far more stable than many currencies in South America.** I predict that crypto is going to explode in South America for this reason. This is a smart investment.
Rich guys investing in crypto now means we are still early.
Who doesn’t love a good buffet?
Every broker I’ve seen offers crypto etf’s. This is Buffet investing in a bank, he doesn’t give a shit about crypto.