Crypto

Warren Buffett to invest $500M in BTC-powered digital bank

Warren Buffett to invest $500M in BTC-powered digital bank

Cryptocurrency News – Warren Buffett, who has been clearly hostile to Bitcoin in his speeches , is investing in a digital bank that offers Bitcoin ETFs to its clients. As reported by CNBC, Warren Buffett’s Berkshire Hathaway has invested half a billion USD in Brazilian digital bank Nubank. It first appeared on CNBC’s Disruptor 50 list in 2021.

The intriguing thing here is that Nubank has acquired Easynvest brokerage firm and the two financial firms are planning to invest in Bitcoin ETFs for their clients together. Nubank and Easynvest have been negotiating since fall 2020 and the acquisition will take place later this year.

Warren Buffett is a prominent long-term Bitcoin nemesis. He spoke very negatively about Bitcoin in one of his interviews a few years ago.

warren buffett bitcoin
warren buffett bitcoin

500M investment in BTC-powered digital bank

Justin Sun, crypto phenom and CEO of the TRON Foundation, had lunch with Buffet in January 2020 when Buffet invited other leaders of prominent crypto companies such as Charlie Lee and Yoni Assia. This charity dinner was very exciting and cost Justin Sun more than $4 million. After lunch, Sun tweeted that he gave Warren Buffet a smartphone with some BTC and TRX in his wallet.

As reported by U.Today, Buffett, the fourth richest person in the world, described cryptocurrencies as garbage on the grounds that they have zero value in an interview with CNBC’s Becky Quick nearly a year ago.

During the CNBC interview, Warren Buffett also jokingly suggested that he could launch his own cryptocurrency called “Warren Currency”. His words were used as another marketing ploy by Sun, who now proposes to issue WARRENCOIN on the Tron blockchain without any monetary value.

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