Just saw the news - Warren Buffett officially stepped down as CEO of Berkshire Hathaway today after 60+ years running the $1 trillion conglomerate. At 94, he's handing operations to Greg Abel while staying on as chairman. Pretty significant moment in finance history.

But honestly, what caught my attention is how this marks the end of an era where one of the world's most influential investors was openly skeptical about crypto. And I mean openly. His quotes on Bitcoin are legendary in the space.

Back in 2018, Buffett called Bitcoin "rat poison squared" during Berkshire's annual meeting. But he didn't stop there. By 2022, he was even more direct - told shareholders he wouldn't buy all the Bitcoin in existence for $25. His reasoning was straightforward: it doesn't produce anything. No cash flow, no income, nothing. He contrasted it with actual productive assets like farmland or apartment buildings that generate returns.

The quote that stuck with people was when he said if someone offered him all the Bitcoin in the world for $25, he'd refuse because "what would I do with it? I'd have to sell it back to you." He held up a $20 bill and basically said currency needs to be accepted and useful. Everything else is just speculation.

His late partner Charlie Munger was just as harsh. Called crypto a "turd," said it was "disgusting and contrary to civilization." Munger was actually proud Berkshire stayed away from the whole space.

What's interesting is how Buffett built Berkshire from a failing textile mill he bought in 1962 at $7.60 per share into something worth $750,000+ per Class A share today. His entire $150 billion fortune came from believing in tangible value and long-term American business. That philosophy made him dismiss anything that didn't fit that model.

So yeah, his retirement closes a chapter where the world's most successful investor was basically the crypto space's most famous skeptic. Whether you agree with him or not, his voice carried weight. Interesting to see what happens with Berkshire's stance moving forward under new leadership.