Warren Buffett’s Berkshire Puts Billion in Bitcoin Friendly Digital Bank
Warren Buffett’s Berkshire Hathaway bought $1 billion in shares of Brazilian digital bank Nubank in the fourth quarter of 2021, according to a 13F SEC filing. At the same time, it also dumped a portion its Visa and Mastercard holdings, selling $1.8 billion and $.3 billion worth of stock, respectively,
At a valuation of $41.5 billion in December 2021 when Nubank went public, Berkshire Hathaway reportedly acquired 30 million shares for a total of $250 million. During the last quarter of 2021, Berkshire also offloaded 1.27 million shares of VISA and 302,000 shares of Mastercard.
In the fourth quarter of 2021, Berkshire also sold 1.27 million shares of VISA and 302,000 shares of Mastercard.
In June 2021, Berkshire Hathaway already invested $500 million in Nubank by leading the extension of a Series G funding round.
Just 4 years ago, Buffett called Bitcoin “rat poison squared,” a stance he now likely has altered.
With its exposure in Nubank, Berkshire Hathaway has indirect exposture to crypto thru the bank’s investment unit, NuInvest, which allows users to invest in crypto ETFs, according to the company website.
The post Warren Buffett’s Berkshire Puts $1 Billion in Bitcoin Friendly Digital Bank appeared first on iGaming.org.
Source: igaming
