Gates had previously challenged the cryptocurrencies, even referring to their biggest “fan”, Elon Musk, with whom they do not have the best of relations…
If you thought you were the founder of Microsoft Bill Gates are in favor of cryptocurrencies and NFTs (digital assets) you are making a big mistake…
“These digital asset trends are 100% based in the theory of the greatest fool “, said the American Croesus at the TechCrunch conference, referring to the idea that investors can make money from useless or overpriced assets, if some people are willing to make higher offers.
Gates made it clear that he does not invest or sort cryptocurrencies. And he mocked the Bored Apes NFTs, joking that “accurate digital monkey images” would “Improve the world incredibly.”
Instead, Gates said he prefers “old-fashioned investments.” “I’m used to asset classes, like a farm where there is production or a company that produces products,” he said.
His comments come as bitcoin and other cryptocurrencies collapse in the markets. Bitcoin hit a record high of $ 69,000 in November 2021. Since then, the world’s most valuable cryptocurrency has lost two-thirds of its value, falling under $ 23,000 on Tuesday. It has lost about 25% of its value since last Friday. In fact, the cryptocurrency exchange Coinbase announced that it is firing 18% of its employees, as the digital currency market continues to collapse.
Gates had previously challenged cryptocurrencies, referring to their biggest “fan”, Elon Musk, with whom they do not maintain the best of relations … In a 2021 interview with Bloomberg, Gates said that “it’s one thing for Elon Musk and Tesla to invest in bitcoin, but that does not mean that average investors should follow this example “.
“I think people are getting carried away by these mania, and they may not have that much money to spend,” Gates said. “So I’m not positive about bitcoin.”
