Warren Buffett Reduces Stake in Brazilian Crypto Bank Amid Market Fluctuations

OMAHA, Neb. — Warren Buffett‘s Berkshire Hathaway has significantly reduced its stake in Nu Holdings, the parent company of Brazilian digital bank Nubank, trimming its holdings by 46.26 million shares as of the end of December 2024. This shift leaves Buffett with 40.18 million shares valued at approximately £329.73 million.

Nu Holdings launched a crypto trading platform, Nubank Cripto, in 2022, enabling users to trade popular digital assets such as Bitcoin, Ethereum, and Polygon. Despite Buffett’s recent divestment, the company’s stock price has surged over 31% in the last year, buoyed by a remarkable rally in cryptocurrency markets.

Buffett’s sale of Nu Holdings shares coincided with a peak in stock prices, which hit £12.07 in early November 2024, right before Bitcoin surged to its all-time high in December. However, stock prices witnessed a sharp decline to £8.23 by late December before rebounding to over £10.73 by February 18, 2025.

Warren Buffett, known for his skepticism towards cryptocurrencies, has repeatedly referred to Bitcoin as ‘rat poison squared’ and has expressed doubts about the long-term viability of digital currencies. During a 2018 shareholders meeting, he predicted that cryptocurrencies would end poorly. ‘We don’t own any, we’re not short any, we’ll never have a position in them,’ he stated.

In more recent remarks, Buffett reinforced his stance on Bitcoin: ‘If you told me you own all of the Bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it?’ He remains unwilling to invest in assets he does not comprehend.

Despite his critical views on cryptocurrencies, Buffett still holds a considerable position in Nu Holdings. This indicates a potential strategy to capitalize on the growing momentum in the crypto sector, which has been fostered by favorable regulatory developments under U.S. President Donald Trump‘s administration.

In his latest letter to shareholders, Buffett revealed that Berkshire Hathaway’s earnings soared, reporting a 71% increase in operating profit, amounting to $14.5 billion. The conglomerate’s cash reserves reached $334 billion by the end of the year, but the company has refrained from stock buybacks for two consecutive quarters.

During this report, analysts pointed to Berkshire’s strategic investment decisions, including a recent reduction in Bank of America shares and increased holdings in Occidental Petroleum. Buffett continues to navigate the evolving landscape of investments and markets, with many looking forward to the company’s annual shareholder meeting where he will field questions about performance and future strategies.

Buffett’s next steps are under scrutiny as he approaches his 95th birthday, and the prospect of succession is a looming question for investors concerned about the future direction of Berkshire Hathaway.