Warren Buffett's $130 Million Crypto Win in 2023. đ€
Warren Buffett, a prominent critic of cryptocurrencies, has profited from his investment in Nu Holdings.
Berkshire Hathaway, Buffett's firm, acquired 107 million shares of Nu Holdings in 2021, investing $750 million.
As of Q2 2023, Berkshire Hathaway hasn't sold any Nu shares, and the investment has grown to approximately $879.50 million.
Nubank, a Brazil-based fintech company under Nu Holdings, is known for its crypto-friendly approach.
Nubank's crypto-related services include Easynvest, a trading platform offering a Bitcoin ETF, and BTC and ETH trading through Nubank's digital financial services platform.
Nubank launched a loyalty token on the Polygon blockchain and allocated 1% of its cash holdings to Bitcoin in May 2022.
Nu Holdings is the parent company of Nubank, which is the largest fintech bank in Latin America with over 80 million customers.
Nu Holdings' stock has outperformed other top holdings in Buffett's portfolio, including Amazon and Apple.
In 2023, both Bitcoin and Nu Holdings' stock saw a 106% increase year-to-date, coinciding with Bitcoin's decoupling from the stock market in October.
Some attribute Bitcoin's recent gains to optimism around Bitcoin ETFs, while others caution about potential market interplay between traditional markets and the crypto world.
