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“If you offered me all the Bitcoins in the world for $25, I wouldn’t buy them.” Warren Buffett said this sentence in 2022; Not so long ago. The investor legend has previously described the oldest and most important digital currency as “rat poison to the power of two.”
Today the world is back in Bitcoin excitement, with the cryptocurrency hitting an all-time high of over $73,000 in March. What about Warren Buffett? He hasn’t reported anything about Bitcoin lately. Because he was wrong? Probably because he’s secretly happy.
Buffett is capitalizing on the current Bitcoin excitement. And plenty of it.
What does it have to do with Bitcoin’s success?
In 2023 alone, Buffett’s investment firm Berkshire Hathaway invested a billion dollars in Brazilian fintech company Nu Holdings. The company owns Nubank, a neobank that offers crypto trading to users in addition to credit cards and banking. There are 15 coins available for purchase on Nubank. Including Bitcoin. And Nucoin – Nubank’s in-house coin.
Nu Holdings became the most successful investment in 2023 in the portfolio of Berkshire Hathaway, where Buffett has been CEO since 1970. Last year the price increased by 93 percent.
Will Warren Buffett be a Bitcoin fan now? The only thing that is clear is that the investing legend has not yet sold his stake in Nu Holdings and therefore continues to indirectly benefit from rising crypto prices. (nim)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
