Buffett Early Investing Friendly Bank Nu Holdings! Berkshire Hathaway holds $1.2 billion

Investing legend Buffett's contradictory attitude towards cryptocurrency: he swears badly on Bitcoin, but invests in crypto-friendly banks

Although stock god Buffett has long held a negative attitude towards cryptocurrencies such as Bitcoin and even compared it to "rat poison", Berkshire Hathaway, which he is in charge, invested in Brazil's crypto-friendly digital bank Nu Holdings, which has attracted widespread market attention. Buffett has publicly expressed his pessimism about the cryptocurrency prospects, believing that the ending will be bad.

Berkshire Hathaway's Nu Holdings investment: from $500 million to $1.2 billion

According to Fortune magazine, Berkshire Hathaway invested $500 million in Nu Holdings for the first time in its 2021 Series G financing, followed by an additional $250 million. Nu Holdings has its own cryptocurrency trading platform that allows users to invest in digital assets. As of the third quarter of 2024, Berkshire Hathaway's shareholding in Nu Holdings has increased to 0.4%, worth up to $1.2 billion, far higher than the initial investment. This move has caused doubts about Buffett's attitude towards cryptocurrency, which seems to be inconsistent with his publicly expressed views. Fortune magazine commented that Buffett and Berkshire Hathaway are profiting from areas they previously claimed to be unaware of and unpromising.

Nu Holdings shares grow strongly

Google Finance data shows that Nu Holdings' stock price has risen 37% in the past year, and is currently at $12.34, with a total market value of $58.8 billion.

Buffett lays out blockchain domain name patents?

It is worth noting that Berkshire Hathaway has recently invested heavily in the domain name registrar VeriSign, becoming its largest shareholder. VeriSign has several patents on the application of blockchain technology to domain names. This may imply that Buffett is optimistic about the development prospects of blockchain technology and regards it as one of the important considerations for investing in VeriSign. This is in stark contrast to his negative comments on cryptocurrencies and further adds to the mystery of his investment strategy.

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