Warren Buffett, the legendary investor whose leadership transformed Berkshire Hathaway into a financial juggernaut, is stepping down as CEO by the end of 2025. Yet, his well-documented aversion to Bitcoin seems likely to persist within the firm. Buffett, who will stay on as chairman, has famously likened Bitcoin to “rat poison squared,” casting a long shadow over any crypto-friendly shift under his successor, Greg Abel.
A New Chapter, Same Script?
Greg Abel, currently at the helm of Berkshire Hathaway Energy and vice-chairman of Berkshire’s non-insurance operations, is poised to take over the day-to-day leadership. However, those anticipating a crypto revolution at Berkshire may find themselves disappointed. According to Meyer Shields, managing director at KBW, “I would be very surprised if there’s a meaningful change in Berkshire’s attitude toward Bitcoin.” This suggests that Abel, despite his new role, might steer clear of any dramatic pivots away from Buffett’s conservative stance on digital assets. This cautious approach echoes sentiments from other leaders, such as the Arizona governor, who recently called crypto an ‘Untested Investment’ while vetoing a Bitcoin reserve bill.
While Abel might harbor different views personally, Shields believes he is unlikely to initiate any moves that could be perceived as a departure from the Buffett-Munger legacy. “I expect Greg Abel to initially avoid doing anything that could look like a marked shift away from Buffett’s and Munger’s values, even if he actually disagrees,” Shields noted, pointing to the enduring influence of Buffett and the late Charlie Munger on the firm’s ethos.
The Buffett Legacy: More Than Just Numbers
Buffett’s philosophy extends beyond just skepticism toward Bitcoin. At a recent shareholder meeting, he did express openness to diversifying into other currencies if the U.S. economy faltered. Yet, his entrenched critique of cryptocurrencies hints that Bitcoin wouldn’t likely make the cut. The succession plan itself was handled with Berkshire’s trademark finesse. Macrae Sykes, a portfolio manager at GAMCO Investors, lauded Buffett’s decision to keep the leadership transition under wraps until the shareholder meeting. “Another brilliant example of handling a major situation for Berkshire,” Sykes remarked, praising the seamless shift and Buffett’s continued board presence as a source of stability.
Buffett’s enduring influence is not just about his financial acumen but also his ability to navigate the firm through transitions with aplomb. “Shareholders should welcome this transparent transition, but also have confidence that Warren isn’t going anywhere,” Sykes added, underscoring the stabilizing effect of Buffett’s ongoing role.
The Future of Bitcoin at Berkshire
With the change in leadership, some might wonder if there’s room for fresh perspectives on cryptocurrency within the Berkshire boardroom. However, given the firm’s historical conservatism and Buffett’s vocal opposition to Bitcoin, any substantial shift seems improbable in the near term. The firm’s legacy, deeply rooted in traditional investment principles, sets a challenging precedent for any potential crypto advocacy. This conservative stance is mirrored in broader national security discussions, as highlighted by the Deputy CIA director’s view of Bitcoin as a matter of national security.
Yet, in the ever-evolving landscape of finance and technology, the question remains: Could external pressures or market opportunities eventually nudge Berkshire toward a more crypto-inclusive strategy? As of now, the Buffett-Abel transition appears to be more of a baton pass rather than a paradigm shift.
The world will be watching as Berkshire navigates this new chapter, not just for its financial maneuvers but for how it reconciles long-standing values with the relentless march of innovation. For now, Bitcoin enthusiasts hoping for a change of heart at Berkshire may have to wait a little longer—or perhaps look elsewhere.
Source
This article is based on: Bitcoin Likely Still ‘Rat Poison’ at Berkshire Hathaway Even Without Warren Buffett
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
