TechFlow news — On January 23, according to Fortune, newly disclosed SEC filings show that Berkshire Hathaway has increased its stake in Brazilian digital bank Nu Holdings from 0.1% in Q4 2022 to 0.4% in the third quarter of fiscal year 2024, currently holding over 86 million shares valued at nearly $1.2 billion. The company's stock has risen 34% over the past year.
Nu Holdings initially received a $500 million investment from Berkshire during its Series G funding round in 2021, followed by an additional $250 million. In 2022, the company launched its cryptocurrency platform Nubank Cripto, initially supporting Bitcoin, Ethereum, and Polygon, and has since expanded to include Uniswap and Chainlink, enabling users to send, receive, and exchange cryptocurrencies.
This investment stands in stark contrast to Buffett’s previous stance on cryptocurrencies. At Berkshire's 2018 annual meeting, Buffett referred to Bitcoin as "rat poison squared," and in 2022 stated he wouldn't buy all the Bitcoin in the world even if it were offered to him for $25.
