American investor Warren Buffett’s company Berkshire Hathaway has withdrawn part of its funds invested in Visa and Mastercard and increased its stake in Nubank, Brazil’s largest neobank.
According to a filing with the US Securities and Exchange Commission (SEC) on Feb. 14, Warren Buffett’s company sold its Visa and Mastercard shares for a total of $3.1 billion and acquired Nubank’s Class A shares in the fourth quarter of 2021. amount of $1 billion.
It is noteworthy that back in 2020, Buffett openly stated that digital currencies do not produce anything and “their value is zero.” In addition, the entrepreneur said that he never had and never will have cryptocurrencies. Apparently, the businessman revised his position.
Experts suggest that in this way the investor is trying to indirectly support the cryptocurrency industry, without giving up on what was said earlier. Note that this is Berkshire Hathaway’s second investment in Nubank – in July last year, the company invested $ 500 million in a Brazilian bank.
At the end of last year, the founder of Binance, Changpeng Zhao, shared his opinion that Warren Buffett did not have enough knowledge about the cryptocurrency industry and blockchain.
Source: Bits
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