Warren Buffett Steps Down After 60 Years

From labeling it “rat poison squared” to advising people to “stay away from it,” his criticisms were often harsh. Yet, Bitcoin’s market capitalization now exceeds that of Berkshire Hathaway. Warren Buffett, widely regarded as the most prominent investor of our generation and the last, has officially stepped down as chairman of Berkshire Hathaway following a tenure of over six0 years with the firm. He now holds the title of Chairman Emeritus and stays on the board of directors.

His son, Howard G. Buffett, is stepping into the role of chairman, while Greg Abel maintains his position as CEO to manage the enterprise. In a farewell message addressed to shareholders, the 96-year-old explained that the moment was appropriate to “complete the transition,” commended Abel for assuming full oversight of Berkshire’s daily operations, and characterized his son as the protector of the organization’s core values and culture.

For the cryptocurrency community, his departure also marks the end of the active career of one of Bitcoin’s most prominent and steadfast critics. Over the years, the “Oracle of Omaha” routinely characterized the digital asset as speculative and non-productive, arguing it lacked intrinsic value and failed to qualify as a sound investment. Below are several of his most widely recognized statements.

Rat Poison Squared

Perhaps his most characteristic remark came in 2018, when he referred to Bitcoin as “probably rat poison squared.” This statement followed a prolonged period of skepticism from both Buffett and his longtime business partner, the late Charlie Munger, and swiftly cemented itself as one of the most frequently referenced anti-Bitcoin quotations in traditional finance.

This was not a singular occurrence; earlier that same year, Buffett asserted that cryptocurrencies would “come to a bad ending” and reiterated that Berkshire possessed zero interest in acquiring any cryptocurrency exposure. His primary critique remained consistent over time: unlike operating businesses, agricultural land, or residential real estate, Bitcoin generates no cash flow and produces nothing autonomously.

Stay Away From It

The 2018 rat poison squared remark underscored a broader pattern of warnings in which he consistently urged market participants to stay away from digital currencies.