In the latest news from ShenChao TechFlow, on January 23, according to Fortune, the latest disclosure documents from the United States Securities and Exchange Commission (SEC) show that Berkshire Hathaway’s stake in the Brazilian Digital Bank Nu Holdings increased from 0.1% in the fourth quarter of 2022 to 0.4% in the third quarter of the 2024 fiscal year, currently holding over 86 million shares, with a market capitalization close to 1.2 billion US dollars. The company’s stock price has pumped 34% in the past year.
Nu Holdings initially received a $500 million investment from Berkshire Hathaway in the G round of financing in 2021, followed by an additional $250 million. The company launched the cryptocurrency platform Nubank Cripto in 2022, initially supporting Bitcoin, Ethereum, and Polygon, and has now expanded to support Uniswap and Chainlink, allowing users to send, receive, and exchange cryptocurrencies.
This investment contrasts sharply with Buffett’s previous attitude towards cryptocurrencies. Buffett once called Bitcoin “rat poison squared” at the 2018 Berkshire Hathaway annual shareholder meeting, and in 2022, he said, “Even if someone offered to sell all the bitcoins in the world for $25, he would not buy.”
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