Warren Buffett, who has become famous for calling bitcoin “rat poison squared,” will step down as CEO of Berkshire Hathaway at the end of the year, though he will remain chairman of the board. Incoming CEO Greg Abel, a long-time company executive, is not expected to deviate from Buffett and late vice-chair Charlie Munger's strong opposition to bitcoin and cryptocurrencies.
Analysts, such as KBW's Meyer Shields, see low odds for any meaningful policy change regarding crypto at Berkshire under Abel’s leadership, citing both the company’s legacy and Buffett’s continued presence. Even though Buffett commented about potentially diversifying into other currencies if U.S. economic conditions worsen, he remains skeptical of including bitcoin in such plans.
The succession, kept secret until the annual shareholder meeting, was handled smoothly and with transparency. Market observers view Buffett’s continued involvement as a stabilizing factor, reassuring shareholders amid the leadership transition.