Berkshire Hathaway Dumps Visa & MasterCard, Goes for Nubank
Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and increased exposure in Nubank - the largest fintech bank in Brazil that has also been popular among cryptocurrency investors.
In a securities filing late Monday, the investment giant disclosed that it had purchased $1 billion worth of Nubank Class A stock in Q4/2021, while selling $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively - a potential signal of the company’s refocus from credit companies to their fintech rivals.
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