Friday, September 30, 2022
HomeMarketsBuffett's Berkshire Hathaway invests USD $1 billion in Nubank

Buffett’s Berkshire Hathaway invests USD $1 billion in Nubank

Berkshire Hathaway, the investment company led by Warren Buffett, sold a portion of its shares in Visa and Mastercard and increased its stake in Nubank, the largest capitalization FinTech bank in Brazil, which is one of the most popular among Bitcoin and cryptocurrency investors in the South American nation.

Berkshire Hathaway, acquired more Class A Nubank shares for USD $1 billion during the last quarter of 2021, and sold about USD $1.8 billion and USD $1.3 billion worth of Visa and Mastercard shares, respectively, according to a February 14 presentation.

Although Warren Buffett has been vocal about Bitcoin and major cryptocurrencies, he now seems to be targeting companies in the FinTech space.

This is not the first time Berkshire Hathaway has made a one-off investment in Nubank, having committed some USD $500 million to the bank in July 2021.

Berkshire Hathaway capitalized returns in excess of USD $150 million at the end of 2021, after the bank debuted on the New York Stock Exchange (NYSE), according to Cointelegraph.

Currently within Buffett’s investment portfolio are also companies such as Bancorp, which operates a cryptocurrency custody service for its institutional investment managers.

His investment portfolio also includes entities such as Bank of America and BNY Mellon, which operate research groups and plan to launch digital currency-based services for their clients.

Buy and sell Bitcoin and other cryptocurrencies on Bybit, the most comprehensive cryptocurrency exchange to safely and conveniently invest in the world's most traded cryptocurrencies. Sign up and see how simple it is, go to: https://bybit.com


Follow the latest news about the cryptocurrency market at:

Google News | Facebook | Twitter | Telegram | Reddit 


 

RELATED ARTICLES
- Advertisment -
30,235FansLike
15,154FollowersFollow
156,632SubscribersSubscribe

Most Popular