Berkshire Shares in Nubank Rises to 0.4%
Berkshire Hathaway’s stake in Nubank rose from 0.1% in Q4 2022 to 0.4% in Q3 2024, according to recent U.S. Securities and Exchange Commission (SEC) filings. This increased Hathaway’s holdings to 86 million Nubank shares, valued at nearly $1.2 billion.
Nubank is a digital banking business based in Brazil that serves the cryptocurrency market and has its own crypto platform. In a 2021 Series G funding round, Warren Buffett’s Berkshire Hathaway first contributed $500 million, then another $250 million.
In 2022, Nubank introduced Nubank Cripto, its cryptocurrency platform with support for bitcoin, ether, and polygon. The platform enables users to send, receive, and convert cryptocurrency.
Previously, Warren Buffett, Chairman and CEO of Berkshire Hathaway has repeatedly made his stance on cryptocurrency clear. Speaking at the 2022 Berkshire Hathaway shareholders meeting, he said, “If you told me you own all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything.”
However, with this increase in holdings in Nubank, there’s the possibility that Berkshire Hathaway is becoming more accepting of cryptocurrencies.
