The executive chairman of strategy Michael Saylor called Berkshire Hathaway, a well-known investment company led by the legendary Warren Buffett, 20th century Bitcoin.
Berkshire Hathaway is a 20th century Bitcoin.
– Michael Saylor (@saylor) May 3, 2025
Saylor issued a statement on May 3rd on the same day as Berkshire Hathaway’s annual shareholders meeting in Nebraska. Shortly afterwards, Buffett announced that he plans to step down as CEO by the end of the year and hand over the torch to vice-president Greg Abel.
“I think it’s time for Greg to become the company’s chief executive at the end of the year,” Buffett said at the end of the Berkshire meeting.
The 94-year-old billionaire, who has led Berkshire for 60 years, said he would not sell Berkshire stocks and plan to continue to be involved in certain issues, CNBC reported.
The move marks the end of an era of one of the most iconic figures in global finance. Buffett transformed Berkshire into a $1.1 trillion conglomerate, becoming a symbol of disciplined long-term investment.
Buffett suggests diversifying into other currencies
Also during the meeting, Buffett pointed out that Berkshire was avoiding holding assets related to the collapsed currency. He said the company is open to diversifying to other currencies when the US faces economic challenges.
“Obviously we don’t want to own what we really thought was in the currency we went to hell,” he said. “In the US… you’re going to want to own a lot of other currencies.”
Other important topics raised during the meeting include trade, the US economy, investment, and policy. Regarding trade policy, Buffett emphasized the value of balanced world trade and warned that trade disputes could function as economic warfare.
Expressing a deep belief in American exceptionalism, Buffett called the United States the best place to be born and invested, but he expressed concern about the country’s growing fiscal deficit and described it as unsustainable in the long run.
He highlighted Berkshire’s opportunistic investment approach, revealing that the company has been considering a $10 billion deal recently and could spend up to $100 billion under appropriate conditions.
Buffett argued that securities offer far better opportunities than real estate, especially in the US, highlighting the company’s unique ability to invest in large-scale energy infrastructure if national policy evolves. He dismissed recent market volatility as a minor, urging investors to remain emotional.
Buffett avoids bitcoin, but Berkshire has indirect exposure
Warren Buffett has long been a critic of the voices of Bitcoin and other crypto assets, describing Bitcoin as “probably a square of rat venom,” claiming neither he nor Berkshire Hathaway would invest directly in cryptocurrency.
Despite this stance, Berkshire Hathaway stocks have barely performed Bitcoin by percentage.
The gap has grown since 2015, especially since 2020. Bitcoin has earned more than 780% since 2020, compared to around 150% of Berkshire’s in the same period.
At the time of writing, Bitcoin had fallen slightly in the last 24 hours per Coingecko, trading above $96,800.
Buffett argues that Bitcoin has no intrinsic value, but even so, Berkshire has gained indirect exposure to the digital asset space through portfolio companies.
In particular, Berkshire holds a significant stake in Bank of America. This is investing in multiple spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), according to filing. Fintel tracks it.
The conglomerate has invested over $1 billion in Nu Holdings, a Brazilian digital bank that operates a crypto platform and provides a variety of crypto services, deepening its exposure to the sector.
Additionally, Berkshire holds stakes in Jeffreys Financial Group. This not only owns IBIT shares, but also actively promotes Bitcoin as a hedge against inflation.
