Berkshire Hathaway Increases Stake In Brazilian Digital Bank Nu Holdings

According to BlockBeats, recent filings from the U.S. Securities and Exchange Commission reveal that Berkshire Hathaway has increased its stake in Brazilian digital bank Nu Holdings. The company's holdings rose from 0.1% in the fourth quarter of 2022 to 0.4% in the third quarter of the 2024 fiscal year, now owning over 86 million shares valued at nearly $1.2 billion. Over the past year, Nu Holdings' stock price has surged by 34%. Berkshire Hathaway initially invested $500 million in Nu Holdings during its Series G funding round in 2021, followed by an additional $250 million. In 2022, Nu Holdings launched its cryptocurrency platform, Nubank Cripto, initially supporting Bitcoin, Ethereum, and Polygon. The platform has since expanded to include Uniswap and Chainlink, allowing users to send, receive, and exchange cryptocurrencies. This investment marks a notable contrast to Warren Buffett's previous stance on cryptocurrencies. At the 2018 Berkshire annual shareholders meeting, Buffett famously referred to Bitcoin as "rat poison squared" and stated in 2022 that he would not purchase all the Bitcoin in the world even for $25.