Nearly four years after labelling Bitcoin as “probably rat poison squared” at Berkshire Hathaway’s 2018 annual shareholder meeting (as reported by CNBC) and warning investors against it.
Warren Buffett appears to have changed his course and invested $1 billion in a crypto-friendly bank.
In an SEC filing, Warren Buffett’s company Berkshire Hathaway publicly confirmed its crypto investment. According to the filing, Buffett’s company acquired $1 billion in shares of Nubank.
A Brazil-based digital bank that is the largest of its kind in Latin America.
Nubank, also known as neobank, is a bank that works outside the standard banking system’s norms. NuInvest, the ‘crypto-friendly’ digital bank’s investing branch, allows consumers to invest in a Bitcoin exchange-traded fund (ETF).
Source: GhanaWish.com
