Buffett Claims Bitcoin is Worthless Yet Invests $500 Million!

They say the butt determines the brain, but old man Buffett is different. Investment is investment, belief is another matter.

Just a light touch on the title, we also know that Buffett's Berkshire Hathaway is a company and has already adopted a management system; the $500 million should only be part of its investment portfolio.

A surprising twist has emerged in the investment world: Warren Buffett, who has publicly criticized Bitcoin for years, now indirectly owns Bitcoin. Below are the details of how the Omaha prophet gained exposure to the world's leading cryptocurrency:

Buffett's Criticism of Bitcoin

For years, Warren Buffett has repeatedly criticized Bitcoin, calling it “rat poison squared” and pointing out that it has no intrinsic value. He firmly believes that Bitcoin is a speculative asset that cannot generate productive returns like stocks or real estate.

Despite his skepticism towards Bitcoin, Buffett has indirectly held Bitcoin through his investment in the Brazilian fintech company Nubank. Berkshire Hathaway invested $500 million in Nubank, which has integrated cryptocurrencies (including Bitcoin) into its platform. Through Nubank, Buffett indirectly owns Bitcoin, as the platform offers Bitcoin services to users and holds some Bitcoin on its balance sheet.

Strategic Fintech Investment 🚀

Buffett has always been keen on investing in innovative financial companies, and Nubank represents his strategic layout in the fintech sector. As fintech increasingly merges with cryptocurrency, his investment indicates that Buffett may see potential value in the peripheral companies within the crypto space, even though he does not directly support Bitcoin.

This move also signifies the changing global financial landscape. As major fintech companies like Nubank adopt Bitcoin and other cryptocurrencies, even traditional investors like Buffett are gaining indirect exposure to cryptocurrencies. This reflects the growing influence of cryptocurrencies in mainstream financial services.

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