Buffett clears cryptocurrency friendly bank Nubank, profits $250 million

According to Cointelegraph, Warren Buffett's Berkshire Hathaway has completely withdrawn from its holdings in Nu Holdings, the parent company of Latin American crypto friendly bank Nubank, earning a cumulative profit of $250 million. Despite Nubank hitting new profit highs in 2024 and Q1 2025, Buffett's move reflects his overall strategy of withdrawing from the financial sector. During the same quarter, Berkshire also sold its Citigroup holdings and significantly reduced its holdings in Bank of America, increasing its cash reserves to $347.8 billion. Nubank supports encrypted transactions such as BTC, ETH, XRP, and has previously allocated 1% of its assets to Bitcoin.