Warren Buffett’s Berkshire Hathaway dumped some of its Visa and Mastercard assets and increased its stake in Brazil’s largest fintech bank, Nubank.
The company said in a securities filing that it bought $1 billion worth of Nubank stock in the fourth quarter of 2021, but Berkshire Hathaway sold $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively.
In September 2020, Nubank acquired trading platform Easynvest, which launched an exchange-traded bitcoin fund (ETF) in June 2021. The ETF, under ticker symbol QBTC11, is backed by QR Asset Management and listed on the B3 stock exchange.