Another well-known global elite billionaire, Warren Buffett, seems to make investments in cryptos. His words against cryptocurrency are what makes the investment unbelievable.
Warren Buffet called the digital assets ‘Rat Poison’ while claiming it ‘has no unique value at all’. But his company Berkshire Hathaway just purchased $1.0 Billion worth of stock from a bank named Nubank.
The intended Nubank is a neobank from Brazil. It’s a particular type of bank operating outside traditional banking rules. And the South American digital bank is primarily focused on crypto-based businesses.
Berkshire Hathaway already made the crypto investment public earlier this week. Its SEC filing revealed the information about the purchased $1.0 Bn stock.
Nubank features a digital investment unit called NuInvest. It enables the users to put money on Bitcoin-based ETF (Exchange Traded Fund).
Even the company’s vice president, Charlie Munger, always stood against the crypto market. His specific distaste for Bitcoin isn’t exactly classified or unrecognized.
Yet, the partners have to enter the crypto market against their personal disdains. It’s not the first time Berkshire Hathaway made headlines with Nubank. It actually purchased a $500 Million stake from the neobank last summer.
It appears that no one can ignore the importance or market of the cryptos anymore.
Meanwhile, the company dropped several shares working on traditional financing assets. In fact, Berkshire dropped shares worth more than $3 Billion of MasterCard and Visa.
Speaking of MasterCard, it’s planning to go deeper inside the cryptocurrency world. The financial service giant decided to add payment-focused consulting services for digital assets.
The company released its planned decision on the new offerings on Wednesday. It even includes constantly mainstreaming NFTs within the provided options.
And the new offers should cover almost everything on its crypto programs. It hopes to help develop Central Bank Digital Currencies (CBDCs) eventually.
Not to mention, this isn’t the first time for MasterCard to show interest in cryptos. The company has already developed crypto assets with BitPay and Wirex. Last year, the company said in a statement to prepare for the futuristic crypto-based payments.