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Berkshire Hathaway buys USD 1 bln worth of stock in Nubank

Friday 18 February 2022 10:52 CET | News

Warren Buffett’s Berkshire Hathaway has bought USD 1 billion worth of stock in Nubank, a Brazil-based fintech bank.

This is not Berkshire’s first investment in Nubank. Buffett’s firm reportedly acquired 30 million Nubank shares for USD 250 million in December 2021 when the latter went public. At that time, Nubank's valuation reached USD 41.5 billion. Berkshire had also bought a stake worth USD 500 million in the company in June 2021.

The decision to back Nubank is a milestone for Berkshire Hathaway’s investment strategy. It’s an indicator that the company is starting to move away from credit companies and focusing more on fintech firms.

Nubank is also big on digital currencies and even offers several Bitcoin products. Therefore, Buffett’s move to invest in the fintech firm could indicate that he’s finally warming up to cryptocurrencies, or at least cryptocurrency products like Bitcoin ETFs.


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Keywords: investment, banks, fintech, acquisition, cryptocurrency
Categories: Banking & Fintech
Companies: Berkshire Hathaway, Nubank
Countries: Brazil
This article is part of category

Banking & Fintech

Berkshire Hathaway

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Nubank

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