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Berkshire Hathaway Invests $1B in Brazilian Digital Bank Nubank, Reduces Mastercard, Visa Positions
The share purchase was made in the last quarter of 2021, according to an SEC filing.
Berkshire Hathaway bought $1 billion in shares of Brazilian digital bank Nubank in the fourth quarter of 2021, according to a 13F filing with the Securities and Exchange Commission.
- In December, when Nubank went public, Berkshire Hathaway reportedly acquired 30 million shares for a total of $250 million. At that time, Nubank's valuation reached $41.5 billion.
- 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 invested $500 million in Nubank by leading the extension of a Series G funding round.
- Although Nubank does not allow trading in cryptocurrencies, its investment unit, NuInvest, allows users to invest in crypto exchange traded funds (ETF), according to the company website.
- In 2018, Berkshire Hathaway CEO Warren Buffett declared his dislike of bitcoin, calling it "rat poison squared."
Andrés Engler
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He follows the regional scene of startups, funds and corporations. His work has been featured in La Nación newspaper and Monocle magazine, among other media. He graduated from the Catholic University of Argentina. He holds BTC.
