Moderator - Covid 19 in DR & North Coast
- Jan 7, 2016
And now we know............ the rest of the story.Clarifying a bit.
Warren Buffet made a loan to Nubank early on (May 2021) at no doubt very favorable terms. Much the same as he did with Goldman and Kraft/Heinz to give a couple of examples.
Inside those loans were option rights to acquire stock at prices much lower than could be had at an initial public offering.
At the time of the loan Nubank was to become, and currently is, Latin Americas largest digital bank. At the time of the loan and the option rights, Nubank did not have any stake in crypto or crypto assets.
It was only until NubBank acquired a company named Easynvest (now named Nuinvest) in the fourth quarter of 2021 that it acquired crypto assets.
So yes, Buffet, who does not like crypto or crypto assets is a reluctant owner.
This hardly qualifies him and/or Berkshire as jumping on the crypto bandwagon.
He does however believe in the future of digital banking as a means to help more people (unbanked) get access to banking and credit...............and of course to continue his successful investing track run.