As announced by Nubank earlier this Tuesday, the Brazilian digital bank received a $500 million investment from Warren Buffet’s billion-dollar holding company, Berkshire Hathaway. As per the announcement, the investment received by Nubank will directly go to its outstanding plans for international expansion and to attract even more major tech firms to their cause.
The Brazilian digital bank reportedly has more than 40 million users across Brazil, Colombia, and Mexico, as of press time. Within just the first half of this year, Nubank purportedly grew at a grandiose pace of over 45,000 new users daily – and now, thanks to Buffet’s massive investment, that figure is expected to go even up.
While Buffet is a well-documented Bitcoin (BTC) critic, remarkably stating that cryptos basically have no value and are only helpful to extortionists and other criminals, his investment foray to Nubank signifies a slight bit of hope that his views regarding digital assets may ultimately be changing.
Then again, the Berkshire Hathaway chief has made its name by investing in various tech firms and banks. His $500 million commitment towards Nubank may just be his latest move to expand his treasury even more.