Bitwise Investment’s Teddy Fusalo Urges Bitcoin Acquisition Following Buffett’s US Dollar Warning

During a shareholders meeting on March 3, Bitwise Investment President Teddy Fusalo encouraged investors to consider acquiring Bitcoin after Berkshire Hathaway’s CEO, Warren Buffett, issued a warning regarding the US dollar.

“That’s probably not going to happen, but I think I’d prefer to own more currencies that might emerge in the US,” he remarked during the annual meeting.

Buffett, often referred to as the “Oracle of Omaha,” voiced his strong opposition to protectionism, emphasizing that trade should not be used as a weapon.

In further news, Buffett, who ranks as the fifth-wealthiest individual globally, announced plans to retire as the CEO of Berkshire Hathaway by the end of the year. He took the helm of the company in 1970 when it was struggling as a textile manufacturer. Since then, under his guidance, Berkshire Hathaway has evolved into a major conglomerate, overseeing shares in several prominent companies like Apple, Coca-Cola, and American Express.

Renowned for its substantial cash reserves, Berkshire Hathaway’s holdings have now reached nearly $348 billion. Given Buffett’s recent pessimistic outlook on the US dollar, his comments carry significant weight.

The 94-year-old businessman will be succeeded by Greg Abel, the company’s vice president.

Buffett, with a net worth of $169 billion, has been a vocal critic of Bitcoin, famously labeling it “Rat Poison Square” in 2018. More recently, he referred to the leading cryptocurrency as a “gambling token” lacking intrinsic value in 2023 while acknowledging the innovative aspects of blockchain technology, which underlies Bitcoin.