The Board of Directors Berkshire Hathaway announced the departure of Warren Buffett from the post of general director of the company from January 1, 2026 and the appointment of Grega Abel, vice-chairman of the board of directors of the company Abel. Analysts surveyed by Coindesk believe that the shift of the leader will not change the negative position of Berkshire Hathaway regarding cryptocurrencies. He writes about this RBC Crypto.
The industry participants believe that Abel will adhere to Buffett’s views and will not allow significant changes in the company’s policy. Buffett, who will remain the chairman of the Board of Directors of Berkshire Hathaway, has been claiming for many years that cryptocurrencies in general and bitcoin in particular have no value.
Warren Buffett acquired a control stake in Berkshire Hathaway more than 60 years ago. Over the years, he turned the company into a holding with more than 60 “daughters”, including the Geico insurance company, the BNSF, Berkshire Hathaway Energy railway network, Brooks sneakers and a Dairy Queen Cafe network. Buffett himself takes sixth place in the list of billionaires Bloomberg Billionaires Index, his fortune is estimated at $ 160 billion.
Back in 2017, Buffett advised “stay away from Bitcoin.” The billionaire claimed that the first cryptocurrency has no real value, its cost is growing at the expense of people who are afraid to miss the opportunity to earn on digital money. He later called Bitcoin a “rat -on a square”, also noting that the demand of investors is the only factor that determines the cost of cryptocurrency, so it is a convenient tool in the hands of charlatans.
The confidence that Buffett will be interested in cryptocurrency was previously expressed by the founder of Heisenberg Capital Max Kaiser and co -founder and partner Morgan Creek Didital Jason Williams. Kaiser said in 2020 that Buffett would begin to buy bitcoin in a panic when his course reaches $ 50 thousand. However, the head of Berkshire Hathaway did not change his negative attitude to Bitcoin.
Experts believe that under the new leader, the company will continue to adhere to this position. Abel is unlikely to take sudden steps that could signal the gap with the long -standing views of Buffett and his recently deceased ally Charlie Mangor, said KBW manager Meyer Schilds.
“I would be very surprised if Berkshire’s attitude towards bitcoin has changed significantly. I expect Greg Abel at first will avoid any actions that could look like a noticeable departure from the values of Buffett and Manger, even if he does not agree with them. ”
Manger previously called Bitcoin “disgusting.” He compared cryptocurrency with artificial gold, but was also known for never buying real gold.
Schilds noted that during a meeting with shareholders, Buffett expressed his readiness to diversify his portfolio by buying the currencies of other countries if the US economy continues to weaken. However, given that Buffett continues to criticize cryptocurrencies, it is unlikely that he will invest in bitcoin, the expert says.
The constant presence of Buffett in the Council of Directors will become a “stabilizing” factor for investors, according to the portfolio manager of Gamco Investors Makry Six. He added that “shareholders must welcome this transparent transition, but they must also be sure that Warren will not go anywhere.”
Interestingly, in 2020, Buffett himself became the owner of cryptocurrency. The billionaire received 1 bitcoin as a gift from the founder of Tron Justin San at a charity dinner.
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Source: Cryptocurrency
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