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Warren Buffett made his latest move regarding his investment linked to Cryptocurrency!
The famous investor Warren Buffett's leading Berkshire Hathaway made a profit of approximately 250 million dollars by selling all its shares in Nu Holdings, the parent company of the Brazil-based digital bank Nubank.
According to the notification made to the U.S. Securities and Exchange Commission on May 15, the company has completely terminated its position in Nubank.
According to the SEC filing, Berkshire sold 20.7 million shares at an average of $13.46 in the third quarter of its sale process, which started with 40.2 million shares in 2024. In the fourth quarter, another 46.3 million shares were sold at an average of $13.22. In the first quarter of 2025, the remaining 40.2 million shares were sold at an average of $11.83, completing the transaction. A net gain of approximately $250 million was obtained from the total sales.
These sales occurred despite Nubank's strong financial performance. The company reported a net income of $557.2 million in the first quarter of 2025, marking a 47% increase compared to the previous year. Adjusted net income reached $606.5 million. Throughout 2024, Nu Holdings achieved an annual net income of $1.97 billion, a 91% increase from the previous year.
Berkshire not only divested all its shares in Nubank but also reduced its holdings in Citigroup, Bank of America, and Capital One. While 14.6 million shares were sold in Citigroup, the stake in the company was reduced by 7% with the sale of 48.7 million shares in Bank of America. The position in Capital One was reduced by 300,000 shares (%4).
Nubank is one of the most active digital banks adopting cryptocurrency services in Brazil and offers direct trading of Bitcoin, Ethereum, and XRP through its application.