Warren Buffett Now Owns Bitcoin: Here's How The Oracle Of Omaha Got Exposure – Bitcoin (BTC/USD), Ethereum (ETH/USD) – Benzinga
Warren Buffett Now Owns Bitcoin: Here’s How The Oracle Of Omaha Got Exposure – Bitcoin (BTC/USD), Ethereum (ETH/USD) – Benzinga
Labeled Bitcoin enemy number one earlier this year by Peter Thiel , Berkshire Hathaway Inc (NYSE: BRK-A )(NYSE: BRK-B ) CEO Warren Buffett now owns a stake in Bitcoin thanks to one of his investments.
What Happened: In June 2021, Berkshire Hathaway invested $500 million in Brazilian digital bank Nubank. Buffett’s Berkshire Hathaway added to its position in the digital bank when the company went public as Nu Holdings NU in December 2021.
For months, many have pointed to Nubank being a cryptocurrency friendly bank that could end up giving Buffett exposure to the trading of cryptocurrency. While Nubank is launching cryptocurrency trading of Bitcoin BTC/USD and Ethereum ETH/USD for its millions of users, the bank’s parent company is also allocating 1% of its cash to Bitcoin, according to a CoinDesk report.
Select users of Nubank can buy and sell Bitcoin and Ethereum as of last week. The trading platform is expected to be available to all users by the end of July. Additional cryptocurrencies are expected to be added to the platform in the future.
Nubank has offered several ETFs for its customers that gave investment exposure to cryptocurrency previously.
“There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region,” Nubank CEO David Velez said.