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Warren Buffett’s Berkshire Hathaway dumps Visa and Mastercard stock and buys $1bn in Bitcoin fintech Nubank
Berkshire Hathaway, Warren Buffett’s investment vehicle, has reportedly ditched more than $3bn in stock in payment processor giants Visa and Mastercard.
According to a securities filing in the U.S., dated 14 February, the investment giant has sold $1.8bn in Visa shares and $1.3bn in Mastercard stock.
At the same time, the company increased its participation in Nubank, the largest fintech bank in Brazil that is highly active among the country’s Bitcoin investors.
The activity signals a shift away from traditional credit companies and an increased focus on their fintech rivals.