August 18, 2022
Nubank compra startup

Find out how much Warren Buffett has invested in FinTech

Many already know that behind nubank There is great knowledge in the investing world, Warren Buffett. However, many are wondering how much the Omaha oracle has invested in financial technology Brazilian.

Last Monday (14), in register Securities firm Berkshire Hathaway (BERK34) announced that it purchased $1 billion of Class A shares of Nubank in the fourth quarter of 2021, while selling $1.6 billion and $1.3 trillion in Visa and Mastercard shares, respectively.

Buffett’s investment in Nubank

According to working news agency Bloomberg, in June last year Berkshire invested $500 million in Nu Pagamentos SA, buying 10% of the shares for sale before the company went public.

Another revelation was revealed in a document sent to the Securities and Exchange Commission (SEC), the US market regulator. The billionaire reported that he made a new stock acquisition in the Brazilian Digital Bank in the fourth quarter and that his stake is already $1 billion.

On December 31, the date indicated in the document sent to the Securities and Exchange Commission, Buffett acquired 2.3% of Nubank. By that date, their stake has doubled in value.

The sale of Visa and Mastercard shares may indicate Buffett’s approach to fintech, a financial sector that has been growing in recent years, and even greater openness towards cryptocurrencies. Remember that Nubank is known as a “crypto-friendly” digital bank, or “crypto-friendly”, in literal translation.

Although Nubank does not yet accept transactions in crypto assets, Nubank’s investment unit, NuInvest, allows users to invest in crypto ETFs.

In 2018, during the annual meeting of shareholders, Buffett expressed a certain hostility to cryptocurrencies, calling them a “rat poison box.” At the time, the executive said that “in terms of cryptocurrency, in general, I can say with almost certainty that it will come to a bad end.”

However, Buffett’s opinion may have changed. After all, a mega investor is not known for wasting investment opportunities.

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