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A shocking move for many..Warren Buffett invests in cryptocurrencies!
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| A shocking move for many..Warren Buffett invests in cryptocurrencies! |
According to press reports, the famous American investor and billionaire "Warren Buffett" has purchased a stake worth one billion dollars in the largest bank "Nubank" in Brazil, which focuses its dealings on financial technology and digital currencies.
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This is not the first investment by Berkshire Hathaway, whose executive management is headed by Warren Buffett, in the Brazilian bank. Rather, Buffett previously acquired 30 million shares in No Bank for $250 million in December 2021.
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After Buffett's investments, the Brazilian bank's market capitalization is currently estimated at $41.5 billion, based on CoinDesk estimates.
The investment comes as a surprise to many, given Buffett's public criticism of cryptocurrencies, which he previously described as "rat poison."
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Buffett commented on one occasion: “If you buy bitcoin or another digital currency, you just hope that someone else will buy it at a higher price, but in the end it does not produce anything and is not even a store of value.”
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