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Warren Buffet’s Berkshire Hathaway Invests in a Pro-BTC Bank

Warren Buffet’s Berkshire Hathaway Invests in a Pro-BTC Bank
  • Berkshire Hathaway has reportedly put $500 million in a pro-Bitcoin bank, Nubank.
  • Warren Buffet, the billionaire, is the CEO of Berkshire Hathaway.
  • Nubank says it will give Bitcoin funding after its acquisition of brokerage agency – Easynvest.

On Tuesday, Berkshire Hathaway, the organization led by CEO Warren Buffett, has reportedly put $500 million in a pro-Bitcoin bank called Nubank. With this, Nubank says it will give Bitcoin funding following its acquisition of brokerage agency Easynvest which bears the cost of the purchasing and selling of Brazil’s first Bitcoin ETF.

Of note, Berkshire Hathaway Inc. has put $500 million in the father or mother organization of Nubank, a Brazil-based Bitcoin-accommodating financial institution. This is a piece of the bank’s Series G funding since bin January. Furthermore, Nubank says it has raised $250 from various purchasers.

Meanwhile, Nubank was established in 2013 with 40 million customers, making it the biggest digital bank globally in terms of clients. According to Reuters, this new investment is expected to give Nubank a $30 billion valuation. Also, they said that the bank is planning to list in a U.S stock exchange this year.

Apart from this, Nubank has more than once expressed it will be offering Bitcoin investment to customers following the acquisition of Easynvest. Last week, they also announced that the bank has rebranded to Easynvest by Nubank, a business organization that offers Bitcoin ETF.

It should be noted, the Bitcoin ETF provided by Easynvest is called QBTC11. It was the first-ever bitcoin ETF approved by the Securities and Exchange Commission of Brazil (CVM). It is also listed on the B3 stock change, which is the biggest stock trades in Latin America and the second oldest in Brazil.

Lastly, Nubank said this Tuesday that it intends to utilize the cash raised to support its expansion in Mexico and Colombia. They will also use it to launch new products, and recruit additional laborers.

Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.