Warren Buffett, often revered as the Oracle of Omaha, has never shied away from voicing his skepticism towards Bitcoin. He once suspected that Bitcoin and other cryptocurrencies were “gambling tokens” with no real value.

But the tide appears to be turning, albeit unintentionally, as Buffett's investment in Nubank has propelled him into the crypto industry.

Warren Buffett's Berkshire Hathaway invested $500 million in Nubank, a Brazil-based digital bank, ahead of its IPO (IPO) in 2021. This fintech marvel simplifies traditional banking services and allows customers to trade Bitcoin and other cryptos.

Following the IPO, Berkshire Hathaway invested an additional $250 million in Nubank, bringing the total investment to $750 million. The current value of the position stands at $840 million, assuming Berkshire has not purchased or sold any shares since the end of the second quarter.

Nubank further forayed into the crypto industry with the launch of its altcoin, Nucoin, earlier this year. Posting over 100% growth in its stock price this year, Nubank's market performance has eclipsed other heavyweight holdings in Buffett's portfolio. These include giants such as Amazon, Apple, Coca-Cola, Bank of America and Kraft Heinz.

Buffett's indirect involvement with crypto through Nubank is ironic as global financial markets navigate turbulent waters. This investment strengthened Berkshire Hathaway's financial position amid a potential $17.7 trillion market earthquake.