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Warren Buffett’s Berkshire Hathaway Invests $500M in Brazilian Digital Bank Nubank


June 9, 2021 · By MATheGooner
Bitcoin (BTC)

Berkshire Hathaway, led by renowned investor and bitcoin critic Warren Buffett, has made a $500 million investment in Brazilian digital bank Nubank with Bitcoin exchange-traded funds (ETF).

The privately held digital bank based in Brazil has roughly 40 million customers and, in the first five months of the year, it has grown at a pace of more than 45,000 new customers per day as digital banking expands quickly in Latin America’s largest economy.

Nubank said the Berkshire Hathaway investment is an extension of the G Series funding carried out in January. Series G is the eighth fundraising event for a startup. It has raised around $2 billion since its inception in 2013, Nu said.

The company’s CEO told The Wall Street Journal that an initial public offering is likely but is not planned.

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