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Billionaire Bill Gates explains why not to invest in cryptocurrencies

Microsoft co-founder Bill Gates is not a fan of cryptocurrency (Image: Getty).

However, he does not possess any kind of digital currency any.

“I like to invest in things of real value. For example, the value of companies is based on how they make great products. Whereas the value of cryptocurrencies is based on judgment alone. guess that someone will buy them, not create any benefit for society like other investments,” billionaire Bill Gates said in a conversation on Reddit.

According to Forbes, Bill Gates once expressed some skepticism about cryptocurrencies, specifically bitcoin. In a February interview with Bloomberg, the billionaire expressed concern about everyday people getting caught up in the Bitcoin frenzy. His opinion is completely valid as the cryptocurrency market is currently in free fall following the collapse of terraUSD last week. After the crash, bitcoin is down 27% this month, while ethereum is down 36%.

“You should be careful when investing in cryptocurrencies if you don’t have as much money as Elon,” he said in the interview.

In addition to cryptocurrencies, in the Reddit conversation, the Microsoft founder also answered questions about many issues in all fields. For example, he counters the conspiracy theory that he wants to track people through the implantation of microchips in vaccine products.

“Why would I want to know where everyone is? What can I do with such information?”, Bill Gates laughed.

In addition, the billionaire also expressed his own views on taxes. Previously, he had vowed to pay more taxes. But in this conversation, he warned that if the tax rate is too high, it can cause many people to find ways to circumvent the law, which will stimulate moves to evade the law to evade taxes.

However, Bill Gates declined to answer questions about his short-term position at Tesla. This is said to be the reason why Tesla CEO Elon Musk is so angry that he has withdrawn from a potential philanthropic partnership with the Microsoft founder.

In the face of public criticism of Musk, billionaire Gates earlier this month said short-selling Tesla “has nothing to do with climate change”, and emphasized that there should be a distinction between giving up shares of Tesla. an electric car company with abandoning the electric car industry in general.

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