5 Takeaways From Warren Buffett’s Cryptocurrency Investment
Twist: He didn’t actually buy any Cryptocurrency!
Warren Buffett has invested in cryptocurrencies?! What? This can’t be true!
That is what we thought when we read Buffett, Crypto, and investment in the same headline. After some digging, we want to clear some misconceptions. Here are the 5 Takeaways from Warren Buffett’s most recent cryptocurrency-related investment.
1. Buffett Never Invested in Cryptocurrencies
In the most recent 13F filing Berkshire Hathaway, the firm founded by Warren Buffett, reported it had increased its position in Nu Bank. The bank is traded on the New York Stock Exchange under the ticker symbol NU and is known as Nu Holdings Ltd.
Subsequently, CNBC reported that Berkshire Hathaway’s total position in Nu Bank had grown to $1 Billion Dollars since it had first purchased the stock just a few months previously.
Okay great, Buffett invests $1 Billion in a bank! What does this have to do with Cryptocurrencies??!
Continuing on, Nu bank primarily focuses on offering digital banking products in South American countries like Brazil. Its product line includes no fee “NuConta” (digital bank account), credit cards…
