Warren Buffett has long been critical of Bitcoin, predicting in 2018 that cryptocurrencies "will not end well." At the time, Bitcoin price was around $15,000.
Even though the price of Bitcoin has soared to $50,000, Buffett still sticks to his original position. He even said that even if someone offered all the Bitcoins in the world for $25, he would not accept it: "How do I use it?" He questioned, "In the end I have to sell it to you, it has no practicality. use."
But there are always exceptions to every rule. Although Buffett is not optimistic about Bitcoin, this does not mean that his Berkshire Hathaway holds the same view.
Berkshire Hathaway has a market capitalization of nearly $900 billion, and Buffett has many experienced advisors to help manage his massive investment portfolio. Obviously, both Buffett and one of his advisers have a soft spot for a stock and have invested US$1 billion in it. The stock's performance is heavily affected by price fluctuations in cryptocurrencies, including Bitcoin.
Nubank was born as a digital-first bank, providing low-cost financial products such as bank accounts, credit cards and personal loans to anyone with a smartphone or computer.
There is a huge appetite for low-cost and easy-to-use financial products. For example, Nubank had almost no customers in 2014, but then the number of customers grew every quarter, reaching more than 90 million by 2023. Amazingly, more than half of all adults in Brazil are now Nubank customers.
When Nubank first launched, customers typically only used one product - the bank's only product at the time. Today, new customers choose an average of three financial products, and this number will increase the longer they use Nubank.
Nucripto, a new product launched by Nubank in 2022, allows users to buy, sell and trade more than ten cryptocurrencies, including Bitcoin and Ethereum. Since its inception, Nucripto has attracted more than one million active users.
Currently, Nubank is still exploring the field of cryptocurrency. It is planning to launch its own digital currency Nucoin and gradually add new cryptocurrency options such as Polkadot and Avalanche.
