Buffett’s Berkshire Hathaway Increases Holdings in Nu Bank

Legendary investor bets bigger on Nu Holdings, boosting its stake to $1.2 billion in Brazil’s rising digital bank.

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Warren Buffett’s conglomerate holding company Berkshire Hathaway is increasing its investment in Nu Holdings Ltd., a Brazilian digital bank, marking a potential shift in its stance on cryptocurrency-related ventures.

According to a recent filing with the US Securities and Exchange Commission (SEC), Berkshire Hathaway raised its stake in Nu Holdings from 0.1% in the fourth quarter of 2022 to 0.4% in the third quarter of 2024. 

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As of the end of Q3 2024, Berkshire Hathaway owned over 86 million shares of Nu, valued at approximately $1.2 billion.

The conglomerate initially invested $500 million in Nu Holdings during the bank’s 2021 Series G funding round, followed by an additional $250 million.

Nu Holdings’ stock has seen significant growth since the beginning of the year, rising nearly 13% year-to-date. 

Warren Buffett’s Crypto Stance

The recent move of Berkshire Hathaway represents a potential departure from Buffett’s previous anti-crypto position. For years, Warren Buffet has been an outspoken critic of cryptocurrency investments.

At Berkshire Hathaway’s 2018 annual shareholder meeting, the legendary investor and CEO called Bitcoin “probably rat poison,” claiming it has no intrinsic value.

Despite increasing its stake in a digital bank, Berkshire Hathaway’s investment approach remains conservative. 

As of late 2024, Buffet’s firm held more than $300 billion in cash and equivalents, with the majority of them invested in US Treasury bills, according to its quarterly financial reports.

The company is renowned for its strategy, built on consistency, substantial cash reserves, and a steadfast refusal to chase fleeting trends.

Why This Matters

The crypto market is amid a significant bull run, with institutional players like BlackRock dubbing it “digital gold.” With a pro-crypto U.S. administration now in place, the sector will likely gain even more trust and attention from traditional institutional investors.

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Alex Costa

Alex Costa is a crypto writer and investor specializing in researching, analyzing and reporting on promising small-cap projects that are gaining traction in the industry. He has been in crypto since 2018, when he began looking for hidden gems in crypto. Today, he is dedicated to finding the next top performing NFTs and tokens.

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