Warren Buffett has long been a vocal critic of cryptocurrencies, calling them “rat poison,” a “gambling chip,” and predicting that they will come to a “bad end.”
But despite his disdain for digital assets, particularly Bitcoin, the billionaire is actually invested in a company linked to the cryptocurrency market.
That company’s stock price soared 27 percent last year, meaning Buffett’s Berkshire Hathaway is making substantial profits.
Nu Holdings is a digital banking company that launched in Brazil about a decade ago and now has more than 100 million customers in Brazil, Colombia and Mexico.
Nubank, which is one of the largest digital challenger banks in the world, allows users to trade Bitcoin and other cryptocurrencies.
It also launched its own cryptocurrency trading platform, Nucrypto, in 2023, which acquired over 1 million users in its first month.
Buffett’s Berkshire Hathaway initially invested $500 million in Nubank in 2021 ahead of its IPO.
And now, through the third quarter of 2024, the legendary investor owns more than 86 million shares of the company. According to company data, these are valued at 1,179 million dollars. Benzinga.
Warren Buffett is known for being a vocal critic of cryptocurrencies, calling them “rat poison” and “gambling token.”
The 94-year-old has also not sold a single share of the company since acquiring his stake.
While shares fell slightly late last year, they are up about 27 percent in 2024, according to Benzinga.
This came off a strong 2023, in which the stock was up almost 100 percent.
In 2018, the “Oracle of Omaha” described Bitcoin at Berkshire Hathaway’s annual shareholder meeting as “probably rat poison squared.”
That same year, he also joked: “In terms of cryptocurrencies in general, I can say almost certainly that they will come to a bad end.”
Buffett is known for his safe, long-term investment approach, while cryptocurrencies are notoriously volatile.
While the cryptocurrency business makes up a somewhat small portion of Nubank’s revenue, its earnings may raise questions about whether the investor may be inclined to rethink his stance on cryptocurrencies.
The cryptocurrency industry as a whole has hailed Donald Trump’s arrival to the White House as a positive moment.
The president has said he will introduce policies that support digital currencies, and both he and his wife Melania have launched their own meme coins in recent days.
Bitcoin hit a new high of $109,000 on the day of Trump’s inauguration on Monday.

Nu Holdings posted substantial profits in 2024, generating profits for Berkshire Hathaway

The cryptocurrency industry as a whole has hailed Donald Trump’s arrival to the White House as a positive moment.

Nubank CEO David Vélez said a new presidential administration should create a more favorable environment for fintech
However, cryptocurrencies retreated on Tuesday, likely due to any concrete political announcements made about the sector during the inauguration.
Nubank CEO David Vélez said Reuters earlier this week that the new presidential administration should create a more favorable environment for Nubank to consider entering the US market.
“With the incorporation of the United States, fintech and cryptocurrencies are back,” said Vélez.
“When an administration suddenly sees that fintech is good for consumers and increases competition, that makes it more attractive.”
Others urge investors to be cautious in the early days of the new administration and see what happens.
“If Donald Trump delivers on his election promises, we could see cryptocurrency markets continue to rise,” said Kenneth Lamont, director at Morningstar. CNBC.
“However, investors would do well to resist the siren song of fear of missing out and sit idly by.”