Buffett dumps Visa and Mastercard shares, buys $1 billion Nubank

time:2022-02-16 01:30 source:Internet

Buffett's Berkshire Hathaway sold some of its Visa and Mastercard holdings and increased its exposure to Nubank, Brazil's largest fintech bank. The company has purchased Nubank Class A shares worth $1 billion in the fourth quarter of 2021, while selling Visa and Mastercard shares worth $1.8 billion and $1.3 billion, respectively. Berkshire Hathaway invested $500 million in Nubank in July 2021. After Nubank's debut on the New York Stock Exchange (NYSE), its aforementioned investment has returned $150 million through December 2021. Nubank-owned trading platform Easynvest has been actively offering a Bitcoin exchange-traded fund (ETF) called QBTC11, which is backed by QR Asset Management and listed on the B3 stock exchange, since June 2021.

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