Bitwise Invest President Teddy Fusaro urged investors to “get some Bitcoin” after Berkshire Hathaway CEO Warren Buffett issued a US dollar warning during a shareholder meeting that took place on March 3.
“It’s unlikely, but there could be things that happen in the United States that would make us want to own a lot of other currencies,” Buffett said during an annual shareholder meeting.
The “Oracle of Omaha” has sharply criticised protectionism, arguing that trade should not be weaponized.
Buffett, the fifth-richest person in the world, announced that he would resign as the chief executive officer of Berkshire Hathaway at the end of the year.
He became the CEO of Berkshire Hathaway became the CEO of which was then just a struggling textile manufacturer back in 1970. Under his leadership, Berkshire Hathaway turned into a global conglomerate that controls plenty of shares of such well-known companies as Apple, Coca-Cola, and American Express.
Berkshire Hathaway is particularly known for holding huge piles of cash. Its cash holdings now stand at nearly $348 billion, which is why Buffett’s recent bearish comment about the US dollar is viewed as particularly important.
The 94-year-old entrepreneur will be replaced by Vice Chairman Greg Abel.
Buffett, whose net worth is estimated to be $169 billion, is known as a staunch critic of Bitcoin. He famously lambasted the original cryptocurrency as “rat poison squared” in 2018. In 2023, he called the leading cryptocurrency “a gambling token” without intrinsic value. At the same time, he described blockchain, the technology underpinning Bitcoin, as “ingenious.”
Leave a Reply