Nubank Offers Withdrawals of Bitcoin, Ethereum, and Solana with Warren Buffett’s Backing
Learn about how Nubank, the largest digital bank in Brazil backed by billionaire Warren Buffett, is now allowing customers to withdraw Bitcoin, Ethereum, and Solana through its app.
The Introduction of Crypto Withdrawals
– Nubank app introduces new “Send” or “Receive” crypto option
– Supports deposits and withdrawals for Bitcoin, Ethereum, and Solana
– The platform plans to expand this feature to include other cryptocurrencies in the future
Nubank: A Unique Crypto Landscape
– Despite Buffett’s skepticism towards cryptocurrencies, he invested $500 million in Nubank in 2021
– Nubank was already interested in offering Bitcoin ETFs at the time
– Buffett reinvested in Nubank in 2022, showing support for crypto while maintaining criticism
– In April 2023, Buffett criticized crypto again, calling Bitcoin a token for bets with no intrinsic value
The Current State of Bitcoin
– Bitcoin has seen a 4% price increase in the last week
– Currently valued at $66,761, below its ATH of over $73,000 in March 2024
– Recovering from a monthly low of $60,000 on April 17th
Swiss National Bank and Bitcoin
– A Swiss popular initiative aims to have Bitcoin included as a monetary reserve for the Swiss National Bank
– If the petition gathers enough signatures, it could be presented in Parliament for approval
– The proposed change would add “and Bitcoin” to the existing constitutional article mentioning gold as part of the bank’s reserves
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