The man known as the "Oracle of Omaha," Warren Buffett, has never been shy in sharing his doubts about Bitcoin. #bitcoin and other cryptocurrencies were initially dismissed by his doubtful mind as "gambling tokens" with no real worth.
With his purchase in Nubank, Buffett has launched himself unwittingly into the cryptocurrency market, but the tide appears to be turning.
Bitcoin Investment Warren Buffett Made Indirectly Pays Off
The Brazilian digital bank Nubank received a $500 million investment from Warren Buffett's Berkshire Hathaway in 2021, just before its IPO. This technological marvel not only allows consumers to exchange Bitcoin and other cryptocurrencies, but also supports typical banking services.
After the first public offering (IPO), Berkshire Hathaway added another $250 million to its initial investment of $750 million in Nubank. Unless Berkshire has made any purchases or sales of shares since the end of the second quarter, the value of the position as of today is $840 million.

This year, Nubank expanded its presence in the cryptocurrency market by releasing its own altcoin called Nucoin. The transition has been a financial zenith. Nubank's stock price has increased by more than 100% this year, making it Buffett's best performing investment. Big names like Amazon, Apple, Coke, Bank of America, and Kraft Heinz are among these.
Ironically, Buffett's engagement with crypto through Nubank comes as global financial markets navigate difficult seas. Berkshire Hathaway's financial stability has been enhanced by this investment, which comes at a time when the market might see a $17.7 trillion earthquake. This demonstrates a nuanced change in the way that traditional investors view the cryptocurrency market.
Buffett's unintentional comments are consistent with a larger story about the convergence of traditional finance and cryptocurrency. Despite his outspoken opposition, Nubank's success demonstrates that even the most ardent sceptics cannot deny the financial possibilities inherent in the crypto sphere.