Despite Warren Buffett’s warnings that Bitcoin is being called ‘Rat Poison’, Berkshire Hathaway continues to profit

While many of the top asset managers and investors are investing in, or at least open to, crypto and Bitcoin, a few remain hesitant to adopt these assets. Most prominent among the anti-Bitcoin camp is legendary investor Warren Buffett.

Buffett’s strategy of investing in solid companies that consistently generate cash and value has been hugely successful. This allowed his company Berkshire Hathaway Inc. sustaining itself during market peaks and troughs.

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Buffett is notorious for his anti-Bitcoin stance, he said in a 2018 interview with Yahoo! Finance: “When you buy something like Bitcoin or a cryptocurrency, you don’t really have anything that has yielded anything. You just hope the next person pays more.”

At Berkshire’s 2022 shareholder meeting, Buffett explained his stance on Bitcoin, saying, “If you told me you owned all the Bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would should I do with it? I would have to sell it back to you somehow. It doesn’t accomplish anything.’

Buffett is against Bitcoin and crypto in general. However, this stance does not fully translate into his company’s investments. Berkshire Hathaway has invested heavily in Brazilian fintech Nu Holdings Ltd. The investment performed strongest in 2023.

Founded in 2013, Now initially offered low-cost bank accounts and personal loans through a format that was much more digitized than its competitors. In 2022, the company launched Nucripto, which allows users to buy and sell more than 15 tokens.

Although its crypto business makes up a somewhat small portion of its revenue, it is still active in the crypto sphere, and its customer base…

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