The financial world is watching whether Greg Abel, who will take over from Warren Buffett of Berkshire Hathaway next year, will show a greater acceptance of Bitcoin.
Given Buffett’s longstanding belief that Bitcoin lacks an intrinsic value and an overall negative attitude towards crypto, Greg Abel is optimistic that despite his silence on previous issues, he may retain a different perspective if he takes over.
Changes in leadership
Shortly after he announced his retirement, Warren Buffett designated current vice-chairman of the insurance business, Greg Abel, as future CEO of Berkshire Hathaway.
The news quickly raised doubts about whether the holding company of the multinational conglomerate might change its view on Bitcoin as an investment.
Some speculate that Abel could adopt a different perspective in his upcoming leadership transition at Berkshire Hathaway in 2026, but this remains purely speculative given the lack of specific information on his stance on Bitcoin and other cryptocurrencies.
If Abel maintains a similar perspective to his predecessor, Berkshire Hathaway’s favourable stance on Bitcoin is highly unlikely.
Buffett’s historical stance on Bitcoin
A 94-year-old multi-billion-dollar investor who has been at the forefront of Berkshire Hathaway for over half a century, Buffett has maintained a consistent skepticism about cryptocurrencies, particularly Bitcoin.
In an interview with CNBC in May 2018, Buffett explicitly stated that he dislikes investing in Bitcoin. On this occasion he called the asset “probably a square of mouse venom.”
“From a cryptocurrency perspective, in general, I can almost certainly say that they will end up with a bad end,” Buffett told CNBC in 2018.
If Abel, like Buffett, holds a similar perspective on cryptocurrency, Berkshire Hathaway’s official stance on Bitcoin may remain negative.
“Buffett was known negatively about the crypto market, but Greg Abel hasn’t given a strong opinion on the asset class. Still, he could be continuing Buffett’s legacy and focusing on concrete, cash-generating businesses.
Nevertheless, other investment managers in the company have shown greater openness to cryptocurrency.
Berkshire Hathaway’s previous code hassle
Last year, news broke that Berkshire Hathaway had invested in NU Holdings. The Brazilian digital banking company operates its own cryptocurrency platform and operates in the crypto market.
Official press release. Source: Nubank.
According to NU, Buffett’s company first invested $500 million in the 2021 Series G funding round, and another $250 million.
The US SEC later revealed that Berkshire Hathaway had significantly increased its ownership of NU, up from 0.1% in the fourth quarter of 2022 to 0.4% in 2024.
If Abel oversees similar increases in investments, the future CEO of Berkshire Hathaway may begin to see some value in cryptocurrency, more specifically Bitcoin.