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Warren Buffett’s Berkshire Hathaway Invests in Bitcoin-Friendly Digital Bank – Featured Bitcoin News

Berkshire Hathaway, led by CEO Warren Buffett, has invested $500 million in a pro-Bitcoin digital bank. NuBank says it will offer bitcoin investments following its acquisition of brokerage firm Easyinvest which offers trading of Brazil’s first bitcoin exchange-traded fund (ETF).

Berkshire Hathaway Invests in Pro-Bitcoin Digital Bank

Warren Buffett’s Berkshire Hathaway Inc. has invested $500 million in the parent company of Brazil-based bitcoin-friendly digital bank NuBank, the South American company announced Tuesday. This is part of the bank’s Series G funding round that began in January. The bank said it has also raised $250 from other investors.

Founded in 2013, NuBank says it has 40 million customers, making it the largest digital bank in the world in terms of number of customers. With the new investment, NuBank has become “the world’s most valuable digital bank and one of the largest financial institutions in Latin America”, the announcement details. Reuters noted that the new investments give NuBank a valuation of $30 billion, which is only slightly lower than Banco Santander Brasil S.A., Brazil’s number. 3 banks. The publication had earlier reported that the bank is planning to list on the US stock exchange as soon as this year.

Pro-Bitcoin NuBank has stated repeatedly that it will offer bitcoin investments to clients following its acquisition of Easyinvest, a brokerage firm that provides bitcoin exchange-traded funds (ETFs). NuBank was authorized to buy EasyInvest in May from Brazil’s central bank. Last week, the bank rebranded EasyInvest to EasyInvest by NuBank.

The Bitcoin ETF offered by Easynvest is QBTC11 by QR Asset Management. It was the first bitcoin ETF approved by the Brazilian Securities and Exchange Commission (CVM). It is listed on the B3 stock exchange, one of the largest stock exchanges in Latin America and the second oldest in Brazil.

NuBank said Tuesday that it plans to use the funds raised for its international expansion in Mexico and Colombia, launching new products and services and hiring more employees.

What do you think of Warren Buffett’s investment in Berkshire Hathaway’s bitcoin-friendly bank? Let us know in the comments section below.

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