Warren Buffett, the CEO of Berkshire Hathaway, a publicly traded investment company, revealed during the annual shareholder meeting that he plans to step down from his position by the end of 2025. His chosen successor, Greg Abel, the vice chairman of non-insurance operations at Berkshire, is expected to take over pending approval from the board of directors. Buffett emphasized that the time has come for Abel to assume the role of Chief Executive Officer at year-end. He mentioned that he would remain in an advisory capacity, with the final decision-making authority resting with Abel. This transition comes as Berkshire Hathaway holds cash reserves of around $348 billion. Buffett, a legendary stock investor, has expressed concerns about the growing US national debt and the increasingly unstable macroeconomic environment, impacting the stock market. Despite Buffett’s track record of outperforming the S&P 500, he has not been able to surpass the performance of Bitcoin and gold. Berkshire Hathaway’s stock, priced over $809,000 per share with a market capitalization exceeding $1 trillion, has significantly lagged behind Bitcoin in terms of percentage growth since 2015. While Bitcoin has delivered returns of over 781% since 2020, Berkshire Hathaway has only yielded approximately 150% over the same period. Buffett has been a vocal critic of Bitcoin, dismissing its value and likening it to a scam multiple times. He, along with his partner Charlie Munger, has advised against investing in Bitcoin, asserting that it does not qualify as a legitimate investment. This move by Buffett to step down as CEO marks a significant transition for Berkshire Hathaway, as the company navigates through changing market dynamics and prepares for new leadership.