Warren Buffett, the legendary investor known for his caution toward cryptocurrencies, has made headlines once again—this time for fully exiting his position in one of Latin America’s most crypto-forward banks, Nubank. Through his company Berkshire Hathaway, Buffett secured a remarkable $250 million profit by selling off all holdings in Nu Holdings, Nubank’s parent company.
The move, confirmed in a U.S. Securities and Exchange Commission (SEC) filing on May 15, 2025, comes despite the bank’s stellar performance. Berkshire began its exit in 2024, selling shares across several quarters at average prices ranging from $13.46 to $11.83. These transactions were not prompted by declining performance. On the contrary, Nu Holdings reported a net income of $557.2 million in Q1 2025—up 47% from the same period last year—and recorded a $1.97 billion net income for 2024, a 91% increase over 2023.
Warren Buffett ’s decision appears to be part of a larger strategic pivot. Alongside Nubank, Berkshire also divested entirely from Citigroup and significantly reduced its holdings in Bank of America, shedding over $2.1 billion in financial sector stocks in the first quarter of 2025. These calculated moves have contributed to Berkshire’s record cash reserves, which now stand at $347.8 billion, including $305.5 billion in short-term U.S. Treasurys.
The sale also highlights an ironic twist. Buffett, who has famously referred to Bitcoin as “rat poison squared,” indirectly gained exposure to the crypto market through Nubank. The Brazilian digital bank offers customers the ability to trade Bitcoin and other top cryptocurrencies and had even allocated 1% of its assets to Bitcoin in 2022. While Buffett’s personal stance on crypto hasn’t changed, his investment benefitted from a company that champions digital assets.
As Berkshire takes a more conservative stance, banking massive cash reserves, Nubank continues to thrive as a leader in digital finance and crypto adoption. Buffett’s exit may reflect his broader investment principles, but it also underscores the evolving landscape of global finance—where even the most traditional investors find themselves intersecting with the future of money.
