The financial world is looking to see if Greg Abel, who will take over from Warren Buffett to Berkshire Hathaway next year, will point out a greater acceptance of Bitcoin.
Given the longtime belief of buffett that bitcoin lacks intrinsic value and its overall negative position on the crypto, some are optimistic that Greg Abel, despite his silence on this subject so far, could have a different perspective when he takes over.
A change of leadership
Shortly after announcing his retirement, Warren Buffett appointed Greg Abel, the current vice-president of non-assurance operations, as the future CEO of Berkshire Hathaway.
This news has quickly aroused questions about the question of whether the multinational conglomerate portfolio company could change its Bitcoin vision as an investment.
Some speculate that Aubel could adopt a different perspective with the next leadership transition to Berkshire Hathaway in 2026. However, this remains purely speculative, since no concrete information on its position on Bitcoin or other cryptocurrencies is available.
If Abel maintained a perspective similar to his predecessor, a favorable position on Bitcoin by Berkshire Hathaway remains very improbable.
Buffett's historical position on Bitcoin
Buffett, the investor of several billion dollars aged 94 who has directed Berkshire Hathaway for more than half a century, has maintained a coherent skeptical position on cryptocurrencies, in particular bitcoin.
In an interview of May 2018 with CNBC, Buffett explicitly declared that he does not like to invest in Bitcoin. On the occasion, he described the asset as “probably a rascal poison in the square”.
“In terms of cryptocurrencies, in general, I can say with almost certainty that they will take a bad end,” Buffett told CNBC in 2018. “We do not have them, we are not, we will never have a position in their position.”
If Abel has a similar perspective on cryptocurrencies that Buffett, the official position of Berkshire Hathaway towards Bitcoin can remain negative.
“While Buffett was famous negative on cryptographic markets, Greg Abel has shown no strong opinion on the asset class. However, it is likely that he will continue the heritage of Buffett, focusing on tangible and cash generators.
Despite this, other business investment managers have shown greater opening to cryptocurrencies.
Berkshire Hathaway preceding the crypto
Last year, the news announced that Berkshire Hathaway had invested in Nu Holdings. This Brazilian digital banking company operates its own cryptocurrency platform and is active on the cryptography market.
According to NakedThe Buffett company has invested $ 500 million for the first time in a series of series G in 2021, followed by an additional $ 250 million.
The United States dry later revealed that Berkshire Hathaway considerably increased his bare property, from 0.1% in the fourth quarter from 2022 to 0.4% in the third quarter of the 2024 fiscal year.
If Abel supervises an increase in similar investments, the future CEO of Berkshire Hathaway could start to see a certain value in cryptocurrencies, and more specifically in Bitcoin.
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