Berkshire Profits Big on Brazilian Crypto Fintech Despite Buffett's Bitcoin Skepticism

Despite Warren Buffett calling Bitcoin "rat poison," Berkshire Hathaway profits from a $750M investment in Brazilian crypto fintech Nu Holdings.

Nu Holdings operates a crypto exchange and its own cryptocurrency, Nucoin, though crypto revenue is still a small portion of total revenue.

Berkshire's stake in Nu is up 50% in 2023 and nearly 100% over the past year, significantly outperforming Bitcoin and the S&P 500.

Nu's big crypto-related gains may cause Buffett to reevaluate his anti-crypto stance and consider further investments.

Bitcoin is up 70% in 2023, reviving attention and speculation that Berkshire may invest in crypto assets.