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Warren Buffett pulls capital out of Visa, Mastercard stocks, prefers Bitcoin-friendly Nubank

  • The Oracle of Omaha, Warren Buffett, has increased his portfolio's exposure to Bitcoin-friendly companies like Nubank. 
  • Based on a recent SEC filing, Berkshire Hathaway dumped Visa and Mastercard stocks in favor of Nubank, a Brazilian neobank. 
  • The firm purchased $1 billion worth of Nubank shares in Q4 2021. 

American business magnate Warren Buffett's firm Berkshire Hathaway sold Visa and Mastercard stocks and increased exposure in the most prominent Brazilian fintech bank, Nubank. Buffett has addressed Bitcoin as "rat poison squared," however the latest SEC filing reveals his interest in BTC-friendly companies. 

Berkshire Hathaway added $250 million in Nubank shares in Q4 2021

Warren Buffett's firm Berkshire Hathaway sold payment giant Visa and Mastercard stocks to acquire 40 million Nubank shares worth $1 billion in Q4 2021. Nubank is Brazil's largest fintech bank, a Bitcoin-friendly firm, popular among investors. 

In a Securities & Exchange Commission (SEC) filing on February 14, Berkshire Hathaway disclosed the purchase of Nubank's Class A stocks. The firm sold $3.1 billion in Visa and Mastercard stocks, reducing exposure to credit companies. 

Buffett is best known for his critique of Bitcoin; the business magnate used the term "rat poison squared" to describe the cryptocurrency. Despite the veteran investors' approach to Bitcoin, there is a rise in Berkshire Hathaway's exposure to BTC-friendly firms and institutions. 

Nubank is a fintech bank that allows users to invest in cryptocurrency ETFs, and Berkshire Hathaway has no intention of reducing exposure to the firm. Berkshire Hathaway's recent investment decisions show the acknowledgment of the rise in Bitcoin mainstream acceptance and adoption. 

Fintech companies have added Bitcoin to their balance sheet or rapidly offered related services to users over the past two years, as the asset gained higher popularity. Berkshire Hathaway's willingness to associate with a Bitcoin-friendly fintech giant fuels a bullish narrative for Bitcoin price. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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