Bitcoin Critic Warren Buffet Invests in a Digital Bank

Bitcoin Critic Warren Buffet Invests in a Digital Bank
  • This investment is a G series fund that was executed in January.
  • Nubank says that its customers have reached 40 million.
  • The acquisition of Easynvest by Nubank will enable investment in Bitcoin.

Bitcoin critic Warren Buffet’s Berkshire Hathaway has made an investment of $500 million in the parent company of the private digital bank, Nubank. This act indicates that Warren Buffet is indirectly helping Bitcoin.

Nubank is a Brazil-based friendly digital bank founded in 2013, reaching 40 million customers. Besides, this investment is an extension of the G series fund, which was carried out five months ago.

The digital bank, Nubank established itself as “one of the most valuable financial institutions in Latin America”, moreover it is acknowledged by TIME and CNBC as one of the most prominent and innovative companies.

Nubank Opens a Bitcoin ETF

On Tuesday, Pro-Bitcoin Nubank shares 

“It plans to use the money raised to fund its international expansion to Mexico and Colombia, launch new products and services, and hire more employees.”

Moreover, Bitcoin-friendly Nubank plans to open a Bitcoin Exchange Traded Fund (ETF). For the further process, Nubank must receive approval from the Brazilian central bank. As per the request, the Brazilian bank approved the bank to acquire the ETF in May. Further, Nubank named the brokerage firm as “Easynvest”, enabling user investment in Bitcoin via Bitcoin ETF.

Therefore, a notable record states, the Securities and Exchange Commission of Brazil (CVM) approved the Bitcoin ETF. It also marked the approval that was given for the very first time. Along with this, it is also appearing on the B3 exchange, one of the largest and leading exchanges in Latin America.

Berkshire Hathaway has previously invested significantly in financial firms, with traditional banks and insurance companies accounting for a sizable portion of its portfolio.

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