Warren Buffett Steps Down as Berkshire Chairman, Bitcoin Criticism Resurfaces

Warren Buffett, who led Berkshire Hathaway for more than six decades, has stepped down from his chairmanship. The company announced on the 18th that it has appointed him as honorary chairman and named Howard Buffett as the new chairman. Buffett joined Berkshire Hathaway in 1965 and will remain on the board of directors. In a shareholder letter, he stated, 'After more than 60 years, I still have what is perhaps the best job in the world.' His past criticism of Bitcoin has also resurfaced. Buffett referred to Bitcoin as a 'mirage' during a 2014 CNBC interview and advised staying away from it. In 2018, he described Bitcoin as 'possibly the square root of rat poison,' stating that it is not a productive asset and that cryptocurrencies would ultimately end poorly.