Di. Mai 17th, 2022

Investment legend Warren Buffet, now well into his 90s and known as a great opponent of bitcoin, has an indirect bitcoin investment to his name.

Berkshire Hathaway, Buffet’s investment firm, has a large position in Brazil’s Nubank, which has decided to invest 1 percent of its reserves in bitcoin.

It remains to be seen how happy Buffet is with this news, as he once called bitcoin rat poison squared. In 2021, Berkshire Hathaway invested 1 billion dollars (950 million euros) in Nubank. Thus, Buffet now indirectly owns bitcoin. However, this cannot be a big surprise for Buffet and his colleagues, as Nubank is known as a bitcoin-friendly bank.

Bitcoin is the strongest

The reason Nubank has chosen bitcoin as a reserve asset on its balance sheet is its market share. The largest cryptocurrency still holds 40 percent of the market and is therefore considered the most secure option crypto has to offer. With this investment, Nubank appears to be definitively establishing itself as a bitcoin-friendly bank. Besides buying bitcoin through the normal trading platform, customers can also invest in the Brazilian bitcoin ETF.

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