Berkshire Hathaway reported strong second-quarter results, with operating profits rising 16% to $12.98 billion. The company also shifted from being a net seller of stocks for 14 quarters to a net buyer, acquiring nearly $20 billion more in equities than it sold. This included a prominent new stake in Alphabet (Google), reflecting a more active capital deployment under CEO Greg Abel.
Despite this spending spree, Abel firmly reiterated the conglomerate’s aversion to cryptocurrency. He stated that Berkshire currently has no plan to invest in crypto, citing a lack of solid economic justification and concern that blockchain systems do not produce tangible assets—a core principle for the company.
While Abel left a slim possibility open with a “never say never” approach, his present view remains negative. “I just don’t see it,” he said. This stance keeps digital assets off Berkshire’s radar even as it ramps up investments in other areas, including technology. The news underscores that a major institutional player remains skeptical of crypto, potentially dampening market sentiment.
