Berkshire Hathaway Invests $1B in Brazilian Digital Bank Nubank, Reduces Mastercard, Visa Positions

The share purchase was made in the last quarter of 2021, according to an SEC filing.

AccessTimeIconFeb 16, 2022 at 2:33 a.m. UTC
Updated Feb 16, 2022 at 3:35 p.m. UTC

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

Berkshire Hathaway bought $1 billion in shares of Brazilian digital bank Nubank in the fourth quarter of 2021, according to a 13F filing with the Securities and Exchange Commission.

  • In December, when Nubank went public, Berkshire Hathaway reportedly acquired 30 million shares for a total of $250 million. At that time, Nubank's valuation reached $41.5 billion.
  • In the fourth quarter of 2021, Berkshire also sold 1.27 million shares of Visa and 302,000 shares of Mastercard.
  • In June 2021, Berkshire Hathaway invested $500 million in Nubank by leading the extension of a Series G funding round.
  • Although Nubank does not allow trading in cryptocurrencies, its investment unit, NuInvest, allows users to invest in crypto exchange traded funds (ETF), according to the company website.
  • In 2018, Berkshire Hathaway CEO Warren Buffett declared his dislike of bitcoin, calling it /"rat poison squared."

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

Trending

1
CoinDesk - Unknown
Nansen Casts Blame for stETH 'De-Peg' on Terra

The report from the blockchain analytics firm also explains how Celsius and Three Arrows Capital helped foment their own declines.

CoinDesk - Unknown
2
CoinDesk - Unknown
Influencers Are Responsible for 92% of Crypto Ad Violations In India, Report Says

Most of the ads either breached guidelines for influencers or general crypto ad guidelines, according to the Advertising Standards Council of India (ASCI).

CoinDesk - Unknown
3
CoinDesk - Unknown
Why This Crypto Crash Is Different

There can be no return to the highly leveraged, fractionally reserved cryptocurrency system whose illusory riches are now giving way to real losses, says our columnist.

CoinDesk - Unknown