Warren Buffett-Backed Nubank Launches Crypto Trading — Holds Bitcoin on Balance Sheet

$Berkshire Hathaway-A(BRK.A.US)$ $Berkshire Hathaway-B(BRK.B.US)$ Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. Starting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no need to open new accounts or transfer money.”
There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region.
Buffett, however, recently said that he will not invest in cryptocurrencies because they do not produce anything. Meanwhile, Berkshire Vice Chairman Charlie Munger believes that crypto is “stupid and evil.”
$Bitcoin(BTC.CC)$ $Ethereum(ETH.CC)$ $S&P 500 Index(.SPX.US)$ $Occidental Petroleum(OXY.US)$