Could Berkshire Hathaway Become a Bitcoin Whale Under Greg Abel?

With Warren Buffett set to step down by the end of 2025, attention has turned to Berkshire Hathaway’s staggering $347 billion in cash—and what new CEO Greg Abel might do with it. While Abel has not signaled a departure from Buffett’s famously anti-Bitcoin stance, the firm’s immense liquidity raises intriguing questions about its potential impact on the crypto market.

Source: Discover Crypto

Enough Cash to Shake the Bitcoin Market

As of Q4 2024, Berkshire Hathaway held $347 billion in cash and U.S. Treasury bills, comprising around 32% of its $1.1 trillion market capitalization. At Bitcoin’s current price of approximately $95,000, Berkshire could theoretically purchase about 3.52 million BTC—roughly 17.88% of the circulating supply of 19.69 million coins.

Source: X/Matthew Sigel, Head of Digital Asset Research at VanEck US

Even if Berkshire used only its estimated $296 billion in U.S. Treasuries, it could still acquire around 3.12 million BTC, or 15.85% of the total supply. That would make Berkshire the single largest institutional Bitcoin holder by a significant margin.

To put this into perspective, Nasdaq-listed Strategy Inc. (formerly MicroStrategy), the world’s top corporate Bitcoin holder, owns 553,555 BTC—worth approximately $52.2 billion. Berkshire could match that with just a fraction of its war chest.

Crypto Exposure Already in Play

Despite Buffett’s famous dismissal of Bitcoin as “rat poison squared,” Berkshire already has indirect crypto exposure. The company holds positions in Nu Holdings—a digital bank active in crypto markets—and Jefferies Financial Group, which has invested in BlackRock’s iShares Bitcoin Trust (IBIT).

This mirrors Berkshire’s cautious approach to gold: while Buffett long criticized gold for its lack of productivity, the firm shocked markets in 2020 by investing in Barrick Gold, a mining company—only to later divest.

BTC/USD two-week price chart. Source: TradingView

Corporate Inflows Forecast to Surge

Analysts at Bernstein forecast around $330 billion in Bitcoin inflows from corporate treasuries by 2029, including $205 billion from listed companies between 2025 and 2029. Much of this will likely come from slower-growth companies emulating Strategy Inc.’s playbook as a way to enhance shareholder value.

Bernstein’s bullish scenario also expects Strategy Inc. to purchase an additional $124 billion in Bitcoin by 2029, backed by new capital-raising goals aiming to secure $84 billion by 2027—double previous estimates.

Will Greg Abel Embrace Crypto?

Greg Abel, Buffett’s successor, is seen as a steward of Berkshire’s conservative, value-oriented investing philosophy. So far, he has not indicated a shift toward riskier or more speculative assets like Bitcoin.

Still, given Berkshire’s indirect crypto exposure and its historic openness to strategic pivots—such as the gold investment—some believe a gradual entry into the Bitcoin space isn’t off the table. Under Abel, Berkshire may not buy BTC outright, but a more nuanced or indirect crypto strategy could emerge as market dynamics shift.

Whether that leads to full Bitcoin adoption or continued caution remains to be seen—but with $347 billion on hand, even a small allocation could send shockwaves through the digital asset space.