Warren Buffett, the CEO of publicly traded investment company Berkshire Hathaway, announced at the company’s annual shareholder meeting that he will step down by the end of 2025, and his chosen successor will take over as CEO, pending approval from Berkshire’s board of directors.

According to CNBC, Buffett reiterated that Greg Abel, the company’s vice chairman of non-insurance operations, who was previously named by Buffett as his successor, will take over. The Berkshire founder announced:

“The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation.”

Buffett added that he would stay at the company in an advisory role “but the final word would be what Greg decided,” the CEO said. Buffett’s decision to step down as CEO comes at a time when Berkshire Hathaway is sitting on cash reserves of roughly $348 billion.

Buffett speaking at the Berkshire Hathaway annual shareholder conference. Source: CNBC

The legendary stock investor has repeatedly called the growing US national debt unsustainable and issued warnings on the increasingly unstable macroeconomic environment that has taken a toll on the stock market.

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Berkshire Hathaway outperforms S&P but is outclassed by Bitcoin

Despite being renowned for consistently returning roughly double the average performance of the S&P 500 to investors throughout his career, Buffet has failed to outperform Bitcoin (BTC) and gold.

Although Berkshire Hathaway’s class A common stock carries a price tag of over $809,000, and a market cap of over $1 trillion at the time of this writing, shares of the company have massively underperformed against Bitcoin in percentage terms since 2015.

Bitcoin has returned gains of over 781% to investors since 2020, while Berkshire Hathaway only returned approximately 150% over the same period.

Bitcoin’s price performance appears in magenta and has outperformed Berkshire Hathaway’s stock in percentage gains. Source: TradingView

Buffett has long been critical of BTC, arguing that the decentralized, supply-capped, digital currency has no value and likened it to a scam on several occasions.

The Berkshire founder and his business partner Charlie Munger have repeatedly said that Bitcoin does not even qualify as an investment and should be avoided by traders.

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Bitcoin (BTC) mining firms should hold their mined Bitcoin and use it as collateral for fiat-denominated loans to pay operating expenses instead of selling BTC and losing the upside of an asset that miners expect to surge in price, according to John Glover, chief investment officer at Bitcoin lending firm Ledn.

In an interview with Cointelegraph, Glover said that holding onto the BTC carries several benefits including, price appreciation, tax deferment, and the potential to make extra revenue by lending out BTC held in corporate treasuries. The executive added:

“If you are mining, you are generating all this Bitcoin. You understand the thesis behind Bitcoin and why it is likely going to continue to appreciate in the future. You do not want to sell any of your Bitcoin.”

This debt-based approach is similar to companies like Strategy, which issue corporate debt and equity to finance Bitcoin acquisition and profit from the diverging fundamentals of BTC and the fiat currencies the corporate capital raises are denominated in.

BTC mining hashprice, a metric used to gauge miner profitability, has collapsed as ever-increasing computing resources are deployed to secure the network. Source: Hashrate Index

Bitcoin-backed loans could be a valuable lifeline for miners struggling in the highly competitive industry, which is facing increased pressure due to the ongoing trade tensions brought on by the Trump administration’s protectionist trade policies and macroeconomic uncertainty.

Related: Riot Platforms secures $100M ‘Bitcoin-backed’ loan from Coinbase

Trade war places even more pressure on beleaguered mining industry

The Bitcoin mining industry is characterized by high competition and capital costs that increase over time as more powerful computing resources are used to mine blocks and secure the network.

US President Trump’s sweeping trade tariffs have cast a cloud over the already competitive sector, raising fears that import duties will raise the cost of mining equipment, like application-specific integrated circuits (ASICs), to unsustainable levels.

Mining firms collectively sold over 40% of their mined supply produced in March 2025 amid the heightened macroeconomic uncertainty and fears that the ongoing trade tensions will cause price increases across the board.

According to TheMinerMag, this 40% sell-off marked the reversal of a trend that began post-halving, in April 2024, and represented the highest monthly BTC liquidation among miners since October 2024.

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Ethereum’s Ether (ETH) token is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.

ETH price fractal from 2019 hints at bottom

The ETH/BTC pair, currently trading near 0.019 BTC, is edging closer to 0.016 BTC — the exact level it reached in September 2019 before rallying nearly 450% over the following year.

ETH/BTC weekly performance chart. Source: TradingView

The current ETH/BTC setup resembles 2019, with both periods marked by oversold relative strength index (RSI), long stretches below key moving averages, and multiyear declines.

In 2019, ETH/BTC fell over 90% in the prior two years, driven by the ICO collapse.

As of 2025, the pair is down over 80% from its 2021 peak, weighed by skepticism over Ethereum’s switch to proof-of-stake (PoS), rising competition, and Bitcoin’s growing dominance as an institutional asset.

In response to the growing concerns, Ethereum co-founder Vitalik Buterin has proposed new architecture and protocol-wide standards to make Ethereum simpler, faster, and as maintainable as Bitcoin within five years.

Related: Ethereum to simplify crosschain transactions with new token standards

One analyst called Buterin’s proposal “the most bullish thing for ETH.”

The bullish hopes come as ETH/BTC attempts to break free from its multi-year “bearish parabola.” This resistance curve has been instrumental in limiting the pair’s upside attempts since December 2021 but showed signs of exhaustion as of May 3.

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“We might see an end of this bearish parabola,” wrote chartist Jimie.

He noted that if the curved resistance holds, ETH/BTC could drop toward 0.016 BTC — the same level where it bottomed in September 2019 before rallying by roughly 450%.

Flush ETH and buy Bitcoin, says Adam Back

Skeptics like Bitcoin’s proof-of-work pioneer, Adam Back, argue that Buterin is overlooking deeper design flaws while proposing to simplify Ethereum in the coming years.

Back criticizes Ethereum’s account-based system, saying it adds unnecessary complexity compared to Bitcoin’s simpler UTXO (unspent transaction output) model. He argues this growing complexity increases technical risks and makes Ethereum harder to scale and secure.

Source: X/Adam Back

He also warns that Ethereum’s shift to PoS has concentrated power among insiders by redirecting miner rewards to large tokenholders.

“At this point, just flush ETH before it hits zero and buy Bitcoin,” he wrote, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.