Warren Buffett's categorical rejection of cryptocurrencies in his latest letter

At 95 years old, Warren Buffett reaffirmed his skeptical stance on cryptocurrencies in the letter he sent to Berkshire Hathaway shareholders on November 10, 2025. The legendary investor was clear: he would not buy a single Bitcoin even if all existing ones were handed to him in exchange for 25 dollars.

The investment philosophy behind the critique

For Buffett, cryptocurrencies like Bitcoin lack the fundamentals that characterize a solid investment. His main argument is that these assets do not generate cash flows nor have intrinsic value beyond speculation. Conversely, Buffett argues that real profit opportunities arise from concrete business earnings, not speculative trading.

This position is not new. Both Buffett and his late partner Charlie Munger have consistently criticized the cryptocurrency ecosystem for years, remaining firm in their investment principles based on fundamental analysis.

The paradox of Berkshire Hathaway and the crypto sector

Paradoxically, Berkshire Hathaway maintains an indirect exposure to the cryptocurrency market through its stake in Nu Holdings, the Brazilian fintech. However, Buffett emphasized that this investment is based on the company’s operational fundamentals, not speculative bets on digital assets.

With this final letter, marking the end of more than 60 years of leadership, Buffett reiterates a core lesson: discipline and patience in investing always surpass speculation and market noise.