Bill Gates Says Why He Doesn’t Own Bitcoin

When asked what he thought about Bitcoin and cryptocurrency on Reddit forum, founder Microsoft answer: “I don’t own any cryptocurrencies. I like to invest in things that have an output”.

To make his point, the billionaire explained that companies get value from creating products. Meanwhile, the value of cryptocurrencies is “something people decide to pay for each other”, so it does not bring anything back to society like other investments.

This is not the first time Bill Gates “Criticize” cryptocurrencies, but his statement still attracts great attention, receiving more than 12,000 upvotes on Reddit.

Gates’ answer also generated mixed opinions. Many forum members said that the billionaire’s views were outdated, with evidence of some cryptocurrencies such as Bitcoin and Ethereum having appreciated many times over the shares of major technology companies, and also provide the same value as fiat money. Others argue that cryptocurrencies consume huge amounts of energy and adversely affect the environment.

Last year, reply CNBCthe Microsoft co-founder also said: “Bitcoin can go up or down based on anyone’s feelings or opinions, and I have no way of predicting that volatility,” alluding to Elon’s statements. Musk can cause a certain cryptocurrency to fluctuate in price.

“If you have less money than Elon, you should probably take precautions,” Gates advises those looking to invest in Bitcoin. In addition, he is also concerned that the way cryptocurrencies work can facilitate some criminal activities to take advantage of.

Gates’ views are similar to those of a friend of his, the legendary investor Warren Buffett. At the meeting in early May, Buffett asserted that no matter who sold all the Bitcoins for 25 USDhe also did not buy because “didn’t know what to do with them and they didn’t create any value”.

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