Billionaire Investor Warren Buffett Scales Back Crypto Bank Stake by Over 53% in Q4

According to the latest 13F filing with the US Securities and Exchange Commission (SEC), Warren Buffett trimmed Berkshire Hathaway's stake in Nu Holdings by 46.26 million shares in the quarter ended 31st December 2024.

As of now, the Oracle of Omaha owns 40.18 million shares of the Brazilian crypto bank, worth £329.73 million. Nu Holdings, Nubank's parent company, launched a crypto platform called Nubank Cripto in 2022. This platform allows users to trade and convert top digital assets like Bitcoin, Ethereum, and Polygon.

In a 2021 Series G funding round, Berkshire Hathaway invested £396 million in Nu Holdings, which was followed by an additional £198 million capital injection in the bank.

Nu Holdings' stock price has jumped over 31% in the past year, which could be attributed to the record cryptocurrency rally led by Bitcoin. Buffett's latest crypto trade was in the same quarter when Nu Holding stock prices reached a record high of £12.07 in early November. During that time, Bitcoin prices were violently climbing towards their all-time high in mid-December.

Soon after, Nu Holdings stock prices sharply fell to £8.23 in late December before gradually rebounding to over £10.73 on February 18th 2025.

Buffett Was Never A Fan Of Cryptocurrencies

The Oracle of Omaha has repeatedly maintained that he isn't a fan of crypto tokens. He even described Bitcoin as 'rat poison squared.' In 2018, he forecast a bad ending for cryptocurrencies.

'In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,' Buffett told CNBC in 2018. 'We don't own any, we're not short any, we'll never have a position in them.'

It is known that Buffett generally avoids investments he doesn't fully grasp. The legendary investor claims he faces challenges with things he somewhat understands, so it won't make sense to open a long or short position in an asset he doesn't get at all.

Furthermore, Buffett believes Bitcoin isn't going to do anything. '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?' Buffett said in a 2022 shareholders meeting. 'I'd have to sell it back to you one way or another.'

However, Buffett still holds a significant stake in Nu Holdings and is likely to continue benefitting from the strong momentum in the crypto industry. US President Donald Trump's pro-crypto administration has played a key role in driving up prices of crypto tokens as the government pushes to establish a regulatory framework to facilitate mass crypto adoption in a secure fashion.

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