Berkshire Hathaway, headed by Warren Buffett, has increased its investment in Nubank, Brazil’s largest fintech bank, by selling some of its Visa and Mastercard shares. The bank in question bitcoin It is known for being extremely popular with investors.
Warret Buffett Sells Mastercard and Visa Shares and Invests $1 Billion in Bitcoin-Linked Nubank
A recently published document revealed that Berkshire Hathaway invested $1 billion in Nubank Class A shares in 2021. The company also sold $1.8 billion in Visa shares and $1.3 billion in Mastercard shares. This move of the famous holding was interpreted as moving away from traditional loan companies and getting closer to financial technology companies.
Warren Buffett is known for being an extra cautious business person when it comes to investing. Famous CEO especially financial technology and cryptocurrencies It is cautiously approaching emerging sectors such as Buffett, one of the most recognizable investors in the world, has repeatedly stated that he does not take these technologies seriously, saying that decentralized finance solutions like Bitcoin “do not create anything for the world”.
However, with Berkshire’s recent investment in Nubank, Buffett appears to have softened his stance on fintech. The company invested $500 million in the Nubank initiative in July 2021. The company’s income from this investment reached $150 million when Nubank was listed on the New York stock exchange in December 2021.
Easynvest, a trading platform acquired by Nubank in September 2020, has been actively offering Bitcoin ETF services in Brazil since July 2021.
*Not investment advice.