Warren Buffett’s company acquired $1 billion worth of cryptocurrency

The authoritative investor Warren Buffett, who heads the investment company Berkshire Hathaway, has repeatedly spoken out with harsh criticism of cryptocurrencies. Once he even called them “rat poison”. However, this week it became known that the words of Warren Buffett do not always correspond to the decisions made. His company bought “poison” for a large amount. We are talking about the acquisition of shares from one of the Brazilian banks. This is Nubank. It works exclusively with digital currency. The deal amounted to $1 billion. Information about the purchase of cryptocurrencies was provided to the SEC. Berkshire Hathaway made the first deal with this bank last summer. Then the acquired shares amounted to 500 million dollars. Warren Buffett has decided to review the composition of his company’s investment portfolio. He invested in cryptocurrencies while abandoning some traditional financial assets. For example, Warren Buffett sold shares in Visa and Mastercard.

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Arseny Kudrin

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