Will Berkshire Hathaway Move Closer to Bitcoin Following Warren Buffett’s Resignation? Here Are Expert Opinions

Legendary investor Warren Buffett is officially stepping down as CEO of Berkshire Hathaway at the end of this year, ending a legendary leadership career that transformed the firm into a global investment giant. While Buffett remains chairman of the board, his highly skeptical stance on Bitcoin and digital assets is likely to continue under new leadership. Buffett’s successor, Greg Abel, currently vice chairman of Berkshire’s non-insurance operations and CEO of Berkshire Hathaway Energy, is set to take over the day-to-day reins. But analysts say any hope for a change of heart at Berkshire on cryptocurrencies is likely misplaced. “I would be very surprised if Berkshire’s stance on Bitcoin changes meaningfully,” said Meyer Shields, managing director at Keefe, Bruyette & Woods (KBW). “There’s a big difference between Buffett and Munger’s cautious attitude toward tech stocks and their outright opposition to cryptocurrencies.” Related News: BREAKING: Coinbase Adds Anticipated Altcoin to Its Listing Roadmap Buffett has long been critical of Bitcoin, calling it a “mix of rat poison” and a “gambling token,” views echoed by his late business partner Charlie Munger. With such strong ideological opposition forming part of Berkshire’s core culture, observers expect Abel to stay away from making dramatic changes, at least initially. “I would expect Greg Abel to avoid doing anything that might initially appear to deviate significantly from Buffett and Munger’s values, even if he does not actually agree with them,” Shields added. At the last shareholder meeting, Buffett hinted that he was open to diversifying out of stocks in the face of potential U.S. economic weakness, saying, “There could be things happening in the U.S. that would push us to own a lot of other currencies.” Still, it’s unlikely those remarks would include digital currencies like Bitcoin, given Buffett’s well-documented aversion to them. *This is not investment advice. Continue Reading: Will Berkshire Hathaway Move Closer to Bitcoin Following Warren Buffett’s Resignation? Here Are Expert Opinions

Source: BitcoinSistemi