Warren Buffet Invests $1 Billion In Crypto-Friendly Bank After Calling Bitcoin “Rat Poison” | CryptoGazette
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It seems that it could be that crypto is not rat poison after all. At least in Warren Buffet’s view. As you probably know, a while ago this is what he used to call crypto, but now his money believes something else, according to the latest reports.
It’s been revealed that specifically, his company Berkshire Hathaway has bought $1 billion worth of stock in a digital bank that focuses on crypto.
“Berkshire Hathaway made its crypto investment public with a SEC filing earlier this week. It revealed that Buffett’s company had purchased $1 billion in shares of Nubank, a digital bank based in Brazil, and the largest of its kind in Latin America.”
Fortune also notes that Nubank is a so-called neobank, a type of bank that operates outside of the rules of the traditional banking system.
“The digital bank’s investment unit, NuInvest, allows users to put money in a Bitcoin exchange-traded fund (ETF)—tapping a financial space that Berkshire’s leaders have shown little love for.”
We suggest that you check out more details about all this in the original article.
Bitcoin adoption explodes
In 2022, the mass Bitcoin adoption continues. As we recently reported, Anthony Pompliano revealed the main reason for which Bitcoin is winning. Check out the latest reports below.
Pomp dropped a critical tweet that had a lot of fans on Twitter hopping into the comments section.
He also revealed this important tweet about Bitcoin vs. fiat:
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $40,812. Stay tuned for more news.
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