Billionaire Bill Gates reveals the reason for not investing in cryptocurrencies

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2022-05-27 09:29:39

The 4th richest person on the planet, and Microsoft co-founder Bill Gates recently stated why he hasn’t made any investments in cryptocurrencies.

Bill Gates Says Why He Doesn’t Invest in Cryptocurrency

At the Reddit AMA (Ask Me Anything) on ​​May 19, when asked about his thoughts on bitcoin and cryptocurrencies, Bill Gates shared that:

“I don’t own any cryptocurrency. I like to invest in things that have output value.”

At the same time, he added that cryptocurrencies “do not add value to society like other investments.”

“The value of companies is based on how they make great products. The value of crypto-currencies is just what some people judge others will pay to buy them, without adding any value to society like other investments.”

Another billionaire Warren Buffet previously took a similar stance as Bill Gates.

“If you sold me all the Bitcoins in the world for $25, I wouldn’t buy it. “Will it go up or down next year, or five or 10 years from now, I don’t know. But one thing I’m pretty sure it didn’t produce anything.”

See also: Billionaire Buffett’s controversial views on Bitcoin

According to Forbes, Bill Gates once expressed some skepticism about cryptocurrencies, specifically Bitcoin. In an interview in February with Bloomberg, the billionaire expressed concern that millions of people were caught up in the crazy “storm” of Bitcoin. Gates’ point of view seems to have been completely grounded when witnessing the “free fall” of the cryptocurrency market over the past time from the TerraUSD crash. During the month, BTC recorded a 27% drop in value, and a 36% drop for Ether.

In February of last year, Gates said he did not own bitcoin, and said he had a “neutral stance”. However, he also said that cryptocurrency is one of those technological innovations that the world would be better off without.

The way cryptocurrencies work today allows certain criminal activities, Gates noted. It would be nice if you could remove that. ”

In addition, the great billionaire also commented on the fact that Tesla CEO Elon Musk owns bitcoin.

“Elon has a lot of money and he’s very knowledgeable, so I don’t worry that his bitcoins will randomly go up or down,” said the Microsoft co-founder. “If you have less money than Elon, you should probably take precautions.”

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