Warren Buffett's Investment Company Makes Lots of Money from Bitcoin Cs
The world's biggest investor, Warren Buffett is known as one of the people who strongly opposes Bitcoin and cryptocurrencies. He even said that Bitcoin is not an asset that generates value.
Buffett himself and his parent company, Berkshire Hathaway Inc. have been renowned for their investments in stable and profitable companies. Buffett believes in investments that create value, rather than relying on investor sentiment.
"If you buy something like Bitcoin or cryptocurrency, you don't really own something that has produced anything. You just hope the next person pays more," he said, citing Yahoo Finance, Monday (19/2/2024).
This strategy has been profitable for decades, allowing Berkshire Hathaway to become one of the largest and most profitable companies in the world. Investors around the world look to Buffett and his companies for investment advice and recommendations.
However, Buffett's strong anti-crypto stance may change after reviewing the company's performance in 2023. The best-performing investment in 2023 for Berkshire Hathaway is Brazilian fintech company Nu Holdings Ltd.
The company owns Nubank, a neobank that offers credit cards and banking as well as crypto trading for users. The company offers 15 different tokens, as well as its own utility token called Nucoin.
The company, which went public in December 2021, has received support from Buffett and Berkshire during series G funding when Berkshire invested US$ 500 million in the company. Buffett then increased his holdings by another US$ 500 million, bringing the total to US$ 1 billion invested in early 2022.
