Bitwise Asset Management President Teddy Fusaro Encourages Investors to Buy Bitcoin, Citing Warren Buffett's Warning on the U.S. Dollar

A recent warning from Berkshire Hathaway CEO, Warren Buffett, about the U.S. dollar has sparked interest among investors, especially toward acquiring Bitcoin, Bitwise Asset Management President Teddy Fusaro has said.

Fusaro was examining the implications of Buffett’s comments, made during Berkshire’s latest shareholder meeting, on Saturday.

At the meeting, Buffett suggested that trends within the United States might push investors toward alternative currencies in the future. He also spoke out against protectionism, arguing that trade shouldn’output:t be used as a weapon.

Investors around the world pay close attention to Buffett due to his decades of success and resilience in the market. Now 94, the legendary investor plans to step down as Berkshire Hathaway CEO by the end of 2025.

As background, Buffett became CEO of Berkshire Hathaway in 1970, about 55 years ago, when the company struggled with its focus on textile manufacturing. Over the decades, Buffett led a complete turnaround of the company’s fortunes, transforming it into a global conglomerate that controls significant shares of A-list companies like Apple (NASDAQ:), Coca-Cola (NYSE:) and American Express (NYSE:).

His current net worth is around $169 billion, and Greg Abel is set to succeed him after his retirement. This track record gives weight to his market warnings, even if they seem to contrast with other long-held views, particularly on crypto.

The Oracle’s Famous Bitcoin Skepticism

While Buffett’s comments raise questions about the dollar’s long-term standing, he remains famously critical of Bitcoin. The respected investor hasn’t pulled any punches when discussing the leading cryptocurrency.

Back in 2018, Buffett slammed Bitcoin, calling it “rat poison squared.”

And then in 2023, the well-respected businessman took another swipe at the flagship crypto, describing it as “a gambling token” without any intrinsic value. However, like many Bitcoin critics, Buffett considers blockchain, the technology underpinning the original cryptocurrency, to be ingenious.