Buffett ditched Visa and Mastercard and invested $1 billion in a crypto bank

Interestingly, earlier Buffett spoke unflatteringly about bitcoins. He called BTC rat poison squared. Apparently, over time, his preferences have changed.

In a report filed with the SEC in mid-February, Berkshire Hathaway reported an additional purchase of Nubank securities at the end of 2021. Buffett now has $1.5 billion worth of shares in this bank in his investment portfolio.

 

 

The first purchase of Nubank shares took place in the summer of 2021. A $500 million investment generated $150 million in revenue in less than six months. Actually, it is not surprising, because this financial institution is quite popular in Brazil.

One of the projects that Nubank supports is the Easynvest platform. She joined the bank in 2020 and works closely with cryptocurrencies. For example, launched Bitcoin-ETF. Thus, Warren Buffett is indirectly investing in the cryptosphere.

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