Elmeromero27
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Warren Buffett withdraws from Nubank with a profit of $250 million while reinforcing his stance against cryptocurrencies
Warren Buffett, known for his skepticism towards cryptocurrencies, has made a significant decision by selling his stake in Nu Holdings, the Brazilian digital bank linked to Nubank, obtaining a profit of $250 million. This action underscores his ongoing stance of avoiding digital assets, despite the growing adoption of cryptocurrencies in Latin America.
The sale of the 40.2 million shares of Nu Holdings was not motivated by poor performance of the company, as it reported record profits in 2024 and the first quarter of 2025. Instead, it reflects a strategy of Berkshire Hathaway to reduce its exposure to the financial sector and increase its cash reserves, which reached a record $347.8 billion.
Despite his retirement as CEO of Berkshire Hathaway, Buffett continues to influence the direction of the company. His successor, Greg Abel, has indicated that the firm's stance towards cryptocurrencies is likely to remain unchanged. Buffett has been a consistent critic of Bitcoin, labeling it as "rat poison squared," and his legacy in the firm suggests that this view will endure.
This withdrawal from an investment tied to cryptocurrencies reinforces Buffett's skepticism towards digital assets and highlights his focus on traditional investments and fundamental values.
#bitcoin #BTC
Warren Buffett, known for his skepticism towards cryptocurrencies, has made a significant decision by selling his stake in Nu Holdings, the Brazilian digital bank linked to Nubank, obtaining a profit of $250 million. This action underscores his ongoing stance of avoiding digital assets, despite the growing adoption of cryptocurrencies in Latin America.
The sale of the 40.2 million shares of Nu Holdings was not motivated by poor performance of the company, as it reported record profits in 2024 and the first quarter of 2025. Instead, it reflects a strategy of Berkshire Hathaway to reduce its exposure to the financial sector and increase its cash reserves, which reached a record $347.8 billion.
Despite his retirement as CEO of Berkshire Hathaway, Buffett continues to influence the direction of the company. His successor, Greg Abel, has indicated that the firm's stance towards cryptocurrencies is likely to remain unchanged. Buffett has been a consistent critic of Bitcoin, labeling it as "rat poison squared," and his legacy in the firm suggests that this view will endure.
This withdrawal from an investment tied to cryptocurrencies reinforces Buffett's skepticism towards digital assets and highlights his focus on traditional investments and fundamental values.
#bitcoin #BTC
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