May 24, 2022

Buffett's company invests in Brazilian digital bank Nubank

In June, Nubank became the owner of Easynvest broker and two other companies that offer clients investments in cryptocurrencies.

Warren Buffett Holding Berkshire Hathawayinvested $ 500 million in Brazilian digital bank Nubank. In early June, Nubank acquired the broker Easynvest and two other companies that offer clients investments in digital assets and exchange-traded funds based on bitcoin.

Buffett has repeatedly criticized the cryptocurrency.The investor pointed out that digital assets do not produce anything and have no fundamental value, but are a record in a distributed ledger, and one can only hope that someone will buy it in the future.

Buffett also said that buying a cryptocurrency can be called speculation or gambling, but definitely not an investment.

“You are not investing when you are doing this.You are speculating. There is nothing wrong. If you want to gamble, someone else will come and pay more money tomorrow, this is one of the games. This is not investment, ”said the investor.

Nubank is a digital bank and the largest fintechcompany in Latin America. It provides clients with the opportunity to obtain a digital account, international credit card, loan, life insurance, and invest funds.