Those were once the words of Warren Buffett, the famous investor called the “sage of Omaha” for knowing things before the rest of the market. Now his money is saying otherwise.
Specifically, his company Berkshire Hathaway has bought $1 billion worth of stock in a digital bank that focuses on crypto.
Berkshire Hathaway made its crypto investment public with a SEC filing earlier this week. It revealed that Buffett’s company had purchased $1 billion in shares of Nubank, a digital bank based in Brazil, and the largest of its kind in Latin America.
Nubank is a so-called neobank, a type of bank that operates outside of the rules of the traditional banking system. The digital bank’s investment unit, NuInvest, allows users to put money in a Bitcoin exchange-traded fund (ETF)—tapping a financial space that Berkshire’s leaders have shown little love for.
Those were once the words of Warren Buffett, the famous investor called the “sage of Omaha” for knowing things before the rest of the market. Now his money is saying otherwise.
Specifically, his company Berkshire Hathaway has bought $1 billion worth of stock in a digital bank that focuses on crypto.
Berkshire Hathaway made its crypto investment public with a SEC filing earlier this week. It revealed that Buffett’s company had purchased $1 billion in shares of Nubank, a digital bank based in Brazil, and the largest of its kind in Latin America.
Nubank is a so-called neobank, a type of bank that operates outside of the rules of the traditional banking system. The digital bank’s investment unit, NuInvest, allows users to put money in a Bitcoin exchange-traded fund (ETF)—tapping a financial space that Berkshire’s leaders have shown little love for.
