Is Warren Buffett finally a Bitcoin (BTC) holder?

Feb 16, 2022

Warren Buffett has invested $1 billion in Bitcoin-friendly Nubank. On the other hand, he has dumped his Visa and Mastercard stocks.

Warren Buffet’s Berkshire Hathaway has offloaded Visa and Mastercard holdings and increased exposure in Nubank. Nubank is one of the largest fintech banks in Brazil and is the favorite for BTC investors.

In its security filing on February 14, the industrial behemoth revealed that it had bought $1 billion worth of Nubank Class A stock in Q4/2021.

Simultaneously the industrial conglomerate headed by Buffet also offloaded $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively.

Buffet, also nick-named “Oracle of Omaha,” is well known to take a cautious approach before investing in the hottest sector of the economy, fintech. Earlier the old hand investor had underplayed the decentralized finance solution and even ridiculed Bitcoin(BTC) as an asset that does not create anything.

Buffet’s investment in Nubank is a sign that he acknowledges the importance of the fintech sector. The fintech sector’s underlying theme is the digitization of financial services, and Buffet is ready to invest in companies involved in the cryptocurrency sector.

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