Despite the growing popularity of Bitcoin and other cryptocurrencies – despite the ongoing massacre in the vast crypto market – Warren Buffett, one of the greatest investors of all time, seems to have changed his mind.
The 91-year-old investor was asked at the annual Berkshire Hatway shareholders’ meeting on May 2 whether he had changed his mind about bitcoin or securities.
“If you took every bit of bitcoin in the world and offered it for $ 25, I would not accept it,” Buffett said. “Because I have no use for him, I have to sell it to you in some capacity. It does nothing.”
A.D. At the same annual shareholders’ meeting in 2018, Buffett warned investors not to invest, citing “potential rat poison.”
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Fast forward to May 13, Nubank – one of the world’s largest digital banking platforms supported by (surprisingly!) “Omaha Oracle” Mr. Buffett himself – has launched a cryptocurrency business.
Starting with Bitcoin and Ether, the bank said its 54 million users “can buy, hold and trade digital assets from the same app without having to sign up or transfer money.”
Nubank is currently located in Colombia, Brazil, and Mexico. In addition, they have started providing encryption trading services in Brazil.
Users can start Bitcoin and Ethereum transactions up to $ 0.2. And with no new accounts, the barrier to bitcoin and other related tokens has been significantly reduced.
Full Bitcoin access
A.D. By the end of July 2022, it is expected that all Brazilian users will have access to all of their cryptocurrencies through Nubank. In addition to providing many crypto options in the future, they plan to educate clients on various websites on crypto.
Nubank is a type of lender called Neobank, which operates outside the normal banking system.
Nuinvest, an investment unit of crypto-friendly digital banking, allows users to invest in Bitcoin trading funds (ETFs), which allows Berkshire leaders to find the financial sector they are least interested in.
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According to various sources, Crypto Infrastructure provider Pixos provides the business and security services necessary for Nubank.
Buffett has long opposed Bitcoin. A.D. In 2018, he told CNBC they would “come to a terrible end” and Berkshire Hatway “would never have a stake in them.”