Buffett’s Berkshire Exits Crypto-Friendly Nubank, Nets $250 Million Profit
Warren Buffett, the legendary investor renowned for his skepticism towards cryptocurrencies, has fully exited his position in Nubank, a Latin American digital bank known for its embrace of crypto services. This move, which generated a $250 million profit for Berkshire Hathaway, raises questions about whether it’s a strategic shift away from the financial sector or a specific aversion to crypto.
Berkshire Hathaway, Buffett’s investment conglomerate, has been gradually divesting its stake in Nubank‘s parent company, Nu Holdings, since 2024. The final tranche of 40.2 million shares was sold in the first quarter of 2025, culminating in a total gain of approximately $250 million from the initial investment.
While Nubank‘s recent performance has been impressive, with record profits reported in 2024 and Q1 2025, Buffett’s exit is more likely linked to Berkshire’s broader retreat from the financial sector. In the same period, Berkshire sold off its holdings in Citigroup and reduced its stake in Bank of America, unloading over $2.1 billion in shares. These moves have significantly boosted Berkshire’s cash reserves, which now stand at a record $347.8 billion, with a substantial portion held in short-term US Treasurys.
Nubank‘s Crypto Embrace
Nubank has been a pioneer in the digital banking space, actively integrating cryptocurrency services into its platform. The bank offers trading in Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and other top cryptocurrencies directly through its mobile app. This approach has attracted a significant following among crypto-enthusiasts and has positioned Nubank as a leader in the evolving landscape of finance.
In 2022, Nubank allocated 1% of its net assets to Bitcoin, which indirectly exposed Buffett to the cryptocurrency despite his well-documented criticism. This move highlighted the growing acceptance of crypto assets within the traditional financial system, even among investors with historically cautious views.
Implications and Perspectives
Buffett’s decision to exit Nubank, despite its strong financial performance, raises several key questions. Is it a sign of a broader shift away from the financial sector by Berkshire Hathaway, or is it a specific aversion to cryptocurrencies, even those indirectly held through investments in crypto-friendly companies?
From a crypto perspective, Buffett’s move could be seen as a setback, particularly given Nubank‘s strong adoption of crypto services. However, it’s important to note that Berkshire Hathaway‘s investments are driven by a diverse range of factors, and this decision may not necessarily reflect a bearish outlook on the broader crypto market.
Ultimately, Buffett’s departure from Nubank is another data point in the ongoing narrative of traditional finance and its evolving relationship with the crypto industry. While the legendary investor may have exited the digital bank, the story of crypto‘s integration into the mainstream financial system continues to unfold.
