Nubank, a Brazilian digital bank invested by Buffett, announced on Wednesday that it would cooperate with Paxos Trust Co., a blockchain start-up, to allow its customers to trade cryptocurrencies. Paxos CEO Michael cosceta said that from Wednesday, more than 50 million customers of nubank will be able to trade bitcoin and Ethereum.
He said Paxos found that Brazil's demand for digital assets increased, which will provide nubank customers with more payment methods, thus creating more financial inclusiveness for them.
Nubank, headquartered in Sao Paulo, said in a statement that it would gradually launch cryptocurrency trading services to all its customers by the end of June. Its parent company Nu Holdings said in the same statement that it had purchased bitcoin equivalent to 1% of its balance sheet performance gold position, but did not provide specific figures.
Buffett has always opposed cryptocurrency. He once called bitcoin "rat poison" and was called "bitcoin's number one enemy" by Peter thier, a venture capitalist in Silicon Valley. He recently said at Berkshire's shareholders' meeting that he wouldn't want all the bitcoin in the world if someone sold it to him for $25. This triggered a counterattack and ridicule from cryptocurrency supporters. Some people pointed out that although Buffett has repeatedly belittled bitcoin in public, in fact, his portfolio can not get rid of the relationship with bitcoin, and especially mentioned his investment in nubank.
