'We wouldn’t bet on a currency going to hell': Warren Buffett’s big warning on the U.S. dollar

Warren Buffett has sounded one of his starkest financial alarms yet — not about stocks or real estate, but about the future of the U.S. dollar itself. Speaking at Berkshire Hathaway’s annual shareholder meeting, the 94-year-old investing icon warned that America’s fiscal recklessness could erode the value of its own currency.

“We would not really invest in a currency that is going to ‘hell’,” Buffett said, adding that a currency’s value can be “a scary thing” when governments act irresponsibly. He didn’t mince words on what’s fueling his concern: Washington’s fiscal policies, which he called “alarming.”

Buffett noted that government behavior increasingly seems designed to weaken the dollar, not protect it. And while he acknowledged the dollar remains dominant globally, he made it clear he's looking elsewhere — pointing to Berkshire’s increased exposure to the Japanese yen as a strategic move.

This rare warning from the “Oracle of Omaha” comes at a time when Berkshire is playing defense. The company has been selling stocks for 10 straight quarters, dumping $134 billion worth in 2024 alone — including trimming its massive Apple and Bank of America holdings. Berkshire’s cash pile now stands at $347 billion, a record high, signaling Buffett is bracing for macroeconomic turbulence.

While much of the shareholder meeting focused on trade policy and tariffs — which Buffett called “a big mistake” and “an act of war” — the most unsettling takeaway was his loss of confidence in the very currency that underpins global markets.

“It’s not wise,” he said of America’s isolationist stance. “We’ve won already. Why risk it?”