The tycoon’s stance on cryptocurrencies could be in doubt for a company that generated great returns in 2023.
Warren Buffett is possibly the investor most influential on the planet. From its parent company, Berkshire Hathaway makes decisions that, in addition to affecting your assets, serve as a reference for the world of investments and finance.
Another of the known characteristics of this tycoon is your stance on cryptocurrencies. Buffett always spoke firmly against Bitcoin and the crypto world in general, for being assets that do not produce valuebeing the opposite of the companies in which you usually investwhich is usually in stable and profitable companies in the long term.
“If you buy something like Bitcoin or some cryptocurrency, you actually have nothing that has produced something. You are simply waiting for the next person to buy more expensively,” he once stated in this regard. However, there may be a situation that changes your mind.
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Cryptocurrencies: Does Warren Buffett maintain his position?
His strategy of investing in companies that generate value gave results to Berkshire Hathaway for decades and allowed it to become one of the largest and most profitable companies in the world. But his anti-crypto stance could change when he sees the returns of his investments in 2023.
The best performing investment in 2023 For the tycoon’s company it was a Brazilian fintech, Nu Holdings Ltd. The company is owner of Nubanka neobank that, in addition to offering credit cards and banking services, allows cryptocurrency trading. Offers 15 different tokensas well as your own token utility called Nucoin.
The company went public in December 2021but had received backing from Buffett and Berkshire during the series G financing round, when Berkshire invested $500 million in the company. Then, Buffett increased his stake in others $500 million to end with a total of $1 billion invested at the beginning of 2022.
The investment made gave extremely positive results. In 2023he Nu Holdings price rose 93%. These huge profits made Nu Holdings a the most profitable investment in Berkshire Hathaway’s portfolio for 2023.
Source: Ambito
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