Berkshire Hathaway, the investment company of American business billionaire Warren Buffett, liquidated Visa and Mastercard equities and raised its stake in Nubank, Brazil’s prominent fintech bank. Buffett has referred to the numero uno crypto as “rat poison cubed,” yet his involvement in BTC-friendly businesses is revealed in a recent SEC filing.
In Q4 2021, Warren Buffett’s company Berkshire Hathaway liquidated shares of Mastercard and Visa to buy 40 million shares of Nubank shares for $1 billion. Nubank is Brazil’s biggest fintech focused bank, as well as a Bitcoin-friendly institution with rising popularity among investors.
Berkshire Hathaway reported the acquisition of Nubank’s Class A stocks in a Securities and Exchange Commission (SEC) filing on February 14. The corporation reduced its stake in credit firms by selling $3.1 billion worth Visa and Mastercard equities.
Buffett is most recognized for his criticism of Bitcoin, coining the phrase “rat poison squared” to characterize the digital currency. Notwithstanding the seasoned investors’ stance on Bitcoin, Berkshire Hathaway is increasing its stake to BTC-friendly companies and organizations.
Berkshire Hathaway has no plans to reduce its commitment in Nubank, a fintech bank that enables consumers to invest in bitcoin ETFs. Berkshire Hathaway’s latest investment selections suggest that the company recognizes the broad acceptability and usage of Bitcoin.
During the last two years, as the cryptocurrency has grown in prominence, fintech organizations have included Bitcoin to their reserves or quickly introduced associated services to customers. The readiness of Berkshire Hathaway to partner with a Bitcoin-supportive finance powerhouse fosters an optimistic scenario for Bitcoin’s valuation.
