Bitcoin Critic Warren Buffett Might Surprisingly Lose Chairman Position at Berkshire Hathaway
The influential conservative advocacy group highlights that ties with the Bill and Melinda Gates Foundation can pose a threat to all investors of Berkshire Hathaway conglomerate. Infamous late financier Jeffrey Epstein is also mentioned in the statement.
Conservatives called for Buffett to be removed, here's why
As reported by Bloomberg yesterday, on May 5, 2023, the activists of Northern Virginia-based National Legal and Policy Center came up with a proposal to replace Warren Buffett as the chairman of Berkshire Hathaway. His cooperation with Bill Gates in the sphere of philanthropy might alienate different groups of investors, the statement goes.
Because Warren Buffett's so closely identified with Berkshire, his support for the Gates Foundation can potentially alienate investors, an activist group warns https://t.co/IBRvzXSUyI
— Bloomberg (@business) May 5, 2023
The conservatives highlighted that by collaborating with Bill Gates, Buffett undermines the principles of neutrality and becomes involved in political processes.
The statement also pointed out the alleged ties between Bill Gates and Jeffrey Epstein. Infamous financier and alleged human trafficker met with Bill Gates and might be managing his money, media outlets say.
It should be noted that the nonagenarian investing legend stepped down from his position as a trustee in BMF; he stated that he was inactive for a long time.
From "rat poison" to "gambling token"
Besides that, the largest pension fund in the U.S., the California Public Employees Retirement System or CalPERS opined that the positions of CEO and chairman in Berkshire Hathaway should be separated.
However, the 92-year old will not be easy to dethrone: He personally holds 31.5% of the votes and is opposed to dividing his leading functions.
As covered by U.Today previously, Buffett is among the most seasoned and adamant critics of Bitcoin (BTC) and cryptocurrencies as a whole. In his world-famous interview five years ago, in May 2018, he slammed the largest cryptocurrency as "rat poison squared."
Alex DovbnyaRecently, he called Bitcoin (BTC) a gambling token with zero intrinsic value. In Berkshire Hathaway he is very far from being the only skeptic. His 99-year-old right-hand man Charlie Munger repeatedly stressed that the Bitcoin (BTC) price would plummet to zero and wished cryptocurrencies were not even invented.
Also, two weeks ago, Buffett's former deputy Tracy Britt Cool compared cryptos to "digital tulips," recalling the tulip mania that captivated the Netherlands in mid-1630s.
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Alex Dovbnya
Dan Burgin