One-Year-Old Warning from Bill Gates About Bitcoin Has Resurfaced
Crypto-focused social media accounts are re-sharing a video from last year, where Bill Gates shared his opinion about Bitcoin and Elon Musk.
During the interview with Bloomberg Technology in February 2021, Gates said he doesn’t believe in Bitcoin and cautioned people to be careful when investing in crypto-assets.
“I do think people get brought into these manias who may not have as much money to spare, so I’m not bullish on Bitcoin,”
“And if you have less money than Elon, you should probably watch out.”
Gates doesn’t like the idea that Bitcoin uses a lot of energy and promotes anonymous, irreversible transactions. He also doubts the intrinsic value of cryptocurrencies.
The billionaire entrepreneur said the Gates Foundation “does a lot in terms of digital currency” while making it evident “who is making the transaction.” He added that digital money is a very positive thing, as it helps to fund poor countries, as their citizens can receive money more efficiently.
In April last year, when cryptocurrency went down by 15% in a few days, Gates was betting on “the total collapse of Bitcoin.”
On the Flipside
- Gates is fond of the metaverse and believes that in the future, virtual meetings will move to the virtual world space. Microsoft acquired Activision Blizzard for $68.7 billion for building the metaverse.
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