How the turn tables: Warren Buffet invested in crypto neobank Nubank who just launched their own token. The same Buffet who once called Bitcoin “rat poison”

Ah how the turn tables. Warren Buffet has been a vocal critic of crypto for quite a while. When referring to crypto, and in particular Bitcoin, Buffet likened them to “rat poison”. Not one to mince words, he went further to call crypto an unproductive asset that “has no unique value at all.”

But talk is cheap.

Buffet has a lot of money. And money talks, and cheaply cheaply either. Buffet has used almost 1% of his entire net worth to invest in heavily crypto-based neobank Nubank. Nubank allows users to trade bitcoin and ether on its network, in addition to the newly added Uniswap and Polygon. Nu Holdings, the parent company of Nubank, also invest in crypto. They state that they would invest around one percent of the cash currently held on its balance sheet into crypto.

Further, Nubank have gone as far as recently launching their own token called Nucoin. Not just that they facilitate trading, but they and actually directly involved in the space. Interesting, first tranche of Nucoin will be dispersed over Polygon to clients as part of an airdrop. Further usage will see usage of the Nucoin token for the purposes of cashback.

One could easily argue that Buffet as been the #1 critic of crypto, especially in terms of influence. And yet, he doesn’t seem to put his money where his mouth is. People say a lot, but at the end of the day, money is one of the few languages everybody understands, and one of the only languages people like him understand. And it sure is saying a lot.