Bill Gates, the American computer programmer and entrepreneur who co-founded Microsoft, has revealed that he has not distributed some of his fortunes in cryptocurrencies.
He said he likes to invest in things that have a “valuable output,” arguing that digital assets do not fit this law.
Crypto is not a cup of tea, according to Bill Gates:
Bill Gates, one of the world's richest people, answered some interesting questions in his interactive Reddit post "Ask Me Anything".
- When asked if he has exposure to the cryptocurrency market, the billionaire said he does not own any such assets.
- Gates revealed that he invests in things with a "valuable output," like companies that can make great products, and that's how they justify their value.
- On the other hand, Gates believes that crypto depends on what someone else decides will pay a higher amount for, so cryptocurrencies have not added to society any value like other investments.
At the beginning of 2021, Gates predicted that cryptocurrencies would eventually emerge as the main form of payment.
Then Gates took a neutral view on Bitcoin.
Soon, he warned people to be very careful when investing in bitcoin because they could suffer huge financial losses.
He also advised everyone with less money than Elon Musk to "be careful" when diving into the world of digital assets.
the rich and Bitcoin
Contrary to the skepticism of Gates, there are many prominent investors and businessmen who are keen on Bitcoin and often praise it and consider it a great investment tool.
For example, Steve Wozniak, one of the inventors of Apple
Last summer, he said that the leading cryptocurrency is better than gold, calling it a mathematical miracle.
- Orlando Bravo, also known as the first Puerto Rican-born billionaire, is very bullish on Bitcoin. He rated it as a "cool" and "frictionless" asset and it's here to stay.
- In his opinion, young people are attracted to its decentralized nature whereby they can create a future financial network that depends on it.
- Also worth noting is Bill Miller, a billionaire who is very optimistic about Bitcoin despite the recent market crash.
He said last week that the asset is insurance against financial catastrophe while its value comes from the fact that the government cannot touch it.