"Stock God" Buffett's handover at the end of the year, Berkshire Hathaway's attitude towards cryptocurrencies is unlikely to change.

Berkshire Hathaway’s leadership officially enters a new era of succession. At the beginning of the year shareholder meeting, the legendary investor Warren Buffett announced he would step down as CEO, with long-time Vice Chairman Greg Abel taking over the company’s operations, while he remains as Chairman to maintain strategic direction. However, for the cryptocurrency investment community, this power transfer may signal an unfavorable outlook—Buffett’s deep-seated aversion to cryptocurrencies seems poised to continue dominating Berkshire’s investment philosophy.

The “Thought Legacy” Challenge Faced by the New CEO

Although Greg Abel will take over Berkshire’s daily operations, breaking through the ideological framework established by Buffett and the late Charlie Munger is no easy task. Industry insiders generally believe that even if Greg Abel himself is open-minded about cryptocurrencies, it will be difficult to push any policy adjustments that seem to deviate from the founders’ values in the short term. This is not only a technical issue but also a deep cultural constraint within the company.

Meyer Shields, Managing Director at KBW, bluntly stated that Buffett and Munger’s hostility toward cryptocurrencies has long transcended knowledge, fundamentally representing a clash of value beliefs. “I would be very surprised if Berkshire makes a major shift in attitude toward Bitcoin.” His judgment reflects the market’s general expectation for this leadership transition.

Buffett’s Long-Term “Anti-Crypto Stance” Has Become Part of Berkshire’s DNA

Buffett’s criticism of cryptocurrencies began at the 2018 shareholder meeting. He first compared Bitcoin to “rat poison” and called it an “asset with no value,” later describing it as a “gambling device.” By 2020, he was openly stating, “Cryptocurrencies have no value; I have never and will never hold any cryptocurrencies.” These remarks not only represent his personal stance but are also deeply embedded in Berkshire’s corporate culture.

Over the years, Buffett’s “anti-crypto ideology” has shaped Berkshire’s framework for evaluating emerging asset classes. Against this backdrop, pushing for substantive policy changes will face enormous resistance. Munger passed away in 2023, and although Buffett has stepped down as CEO, he still retains the Chairman role, allowing him to influence major company decisions.

Industry Experts: No Short-Term Attitude Shift Expected

Greg Abel, currently Chairman and CEO of Berkshire Hathaway Energy, already holds considerable influence within the company. However, Macrae Sykes, portfolio manager at GAMCO, pointed out that the successor will face a delicate balancing act—maintaining consistency with the founder’s ideology while also demonstrating his own leadership.

Market expectations regarding Berkshire’s future stance on cryptocurrencies are generally low. Industry analysts believe that even though Buffett mentioned at the shareholder meeting that “if the U.S. economy weakens further, we might hold more other currencies,” this potential diversification plan clearly would not include Bitcoin or other mainstream cryptocurrencies. Buffett’s resistance to cryptocurrencies has risen to a philosophical level, rather than just market judgment.

A Steady Transition Highlights Berkshire’s Experienced Strategy

Interestingly, Buffett demonstrated strategic foresight when announcing the succession plan. He chose to reveal the news in person at the shareholder meeting rather than leaking it early, allowing Greg Abel to be fully prepared to respond to external questions and avoiding disruptions to daily decision-making caused by long-term succession discussions. This approach reflects Berkshire’s accumulated corporate governance experience over the years.

Macrae Sykes highly praised this leadership transition, calling it an “outstanding example of Berkshire handling major changes.” More importantly, Buffett remaining as Chairman ensures the continuity of the investment philosophy. Shareholders can rest assured that regardless of personnel changes, Berkshire’s core investment principles and risk management framework will remain stable. This “gradual transition” arrangement creates space for the new leadership team to operate while maintaining the core values through Buffett’s ongoing involvement.

For the cryptocurrency community, this leadership change signifies that Berkshire’s cautious attitude toward digital assets will not change in the foreseeable future. The “anti-coin culture” Buffett has built has become part of the company’s DNA and will be passed down through his ideological legacy.