Nubank, a Bitcoin-friendly bank, has received a $1 billion investment from Warren Buffett. He has, on the other hand, sold his Visa and Mastercard holdings. As a result, the billionaire now owns more enterprises that are directly or indirectly related to cryptocurrency. Berkshire Hathaway, led by Warren Buffett, has sold its Visa and Mastercard holdings and expanded its stake in Nubank. Nubank is one of Brazil’s top fintech banks and a popular among Bitcoin investors.
Previously, Buffett downplayed the decentralised finance solution, even mocking Bitcoin (BTC) as a non-creating asset. Buffet’s investment in Nubank, on the other hand, shows that he is softening his stance on cryptocurrencies and is becoming more receptive to them. In July 2021, the firm invested $500 million in the venture. After Nubank debuted on the New York Stock Exchange in December 2021, the returns totaled $150 million (NYSE).
Buffet’s investment in Nubank shows that he recognises the fintech sector’s relevance. The digitization of financial services is the fundamental topic of the fintech sector, and Buffet is willing to invest in bitcoin startups.
In September 2020, Nubank purchased Easynvest, a trading platform. Since June 2021, it has offered Bitcoin exchange-traded funds (ETFs).
Comment below your thoughts in the comments section.