Bill Gates said Cryptocurrencies are meaningless

Bill Gates does not believe in the future of Bitcoin and cryptocurrencies. Asked by a user, the founder of Microsoft has firmly ensured that digital currency is of no small value. Well-known billionaires, like Elon Musk and Tim Cook, are still investing in crypto-assets.

At the beginning of May 2022, the cryptocurrency market suddenly collapsed. The collapse of UST, Terra’s stablecoin, caused a sudden decline in all digital currencies in the market. Bitcoin, the most important cryptocurrency in the world, has dropped below the $ 30,000 threshold. The decline also affected the non-fungible token (NFT) sector, which is gradually collapsing.

In this bearish context, many voices will be heard to address the cryptocurrency ecosystem. A few days ago, Christine Lagarde, President of the European Central Bank, thus ensuring that cryptocurrencies are of little value. This is far from the first time the official has violently denounced the world of digital assets. Some players in the crypto ecosystem also stand out with strong opinions. Thus, the creator of Dogecoin accused 95% of crypto-assets as scams.

Bill Gates refused to buy cryptocurrencies

Reflecting Christine Lagarde, Bill Gates, the famous founder of Microsoft, does not believe in the potential of cryptocurrencies. On Thursday, May 19, 2022, the billionaire actually gave himself some confidence in an AMA (Ask Me Anything) session or “Ask me what you want” on the Reddit social network. He first revealed that he was not using the Surface Duo 2, Microsoft’s foldable smartphone, but a Samsung Galaxy Z Fold 3.

A user asked about Bitcoin and cryptocurrenciesBill Gates is particularly reluctant on the issue. “I don’t own anything. I want to invest in things of value ”estimated Bill Gates, considering from the outset that all digital money is worthless.

“I want to invest in things that add value. The value of companies is based on how well they produce good products. The value of cryptocurrencies is just what other people decide that other people will pay for it, so it doesn’t contribute anything to society like other investments ”explains Bill Gates, who compares investing in cryptocurrencies to investing in stock market shares.

Elon Musk and Tim Cook disagree with Bill Gates

Bill Gates’ opinion is close to the opinion of warren buffet, the famous American investor (8ᵉ world fortune). The billionaire regularly points to the world of cryptocurrencies. “There are things that are valuable and unfruitful. You can sell a beautiful painting that probably has little value. But in general, assets have to deliver something to a person in order to have value ”recently estimated Warren Buffet, who opposes investing in Bitcoin in buying farms or apartments.

“If you tell me you have all the bitcoin in the world and you offer it to me for $ 25, I won’t take it because what can I do with them? I have to resell them to you one way or another. Apartments will make rents and farms will make food ”underlined the investor.

It was far from the first time Bill Gates explicitly despises the cryptocurrency industry. In March 2021, Microsoft’s founder lamented that Bitcoin was consuming massive amounts of electricity, ignoring reports showing that cryptocurrency mining is highly dependent on green, renewable energy.

Not all tech billionaires agree with Bill Gates. Elon Musk, the founder of Tesla and Space X, has never hidden his interest in the world of cryptocurrencies. The richest people in the world, moreover, have invested in Bitcoin, Ether and the controversial Dogecoin. On his side, Tim Cook, CEO of Appleallegedly invested in Ether and Bitcoin on a personal basis.

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