Fun

Bill Gates Neutral on Bitcoin but Says Cryptocurrency Is an Innovation the World Can Do Without

News Feed - 2021-02-21 06:02:49

Bill Gates Neutral on Bitcoin but Says Cryptocurrency Is an Innovation the World Can Do Without


Microsoft founder Bill Gates is no longer a bitcoin bear. He has now taken a neutral stance on bitcoin as an investment. However, as an innovation, he says that cryptocurrency is one that the world would be better off without because it allows for certain criminal activities. Bill Gates Changes His Mind About Bitcoin


Bill Gates spoke about bitcoin and cryptocurrency in two separate interviews Thursday. One was with CNBC where he was asked what he thinks about bitcoin “in the context of climate change seeing how bitcoin takes an enormous amount of energy to digitally mine.” Gates simply replied: I don’t own bitcoin. I’m not short bitcoin. So, I’ve taken a neutral view.


“Bitcoin can go up and down just based on the mania or whatever the views are, and I don’t have a way of predicting how that will progress,” Gates continued.


The Microsoft founder added: “I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries. But there, we do it so you can reverse the transactions so we have total visibility of who’s doing what. It’s not about tax avoidance or illegal activities.”


Gates has been no fan of bitcoin. In an interview with CNBC in 2018, he, Berkshire Hathaway CEO Warren Buffett, and vice chairman Charlie Munger talked about bitcoin being worthless.


“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates remarked. “I would short it if there was an easy way to do it.” BTC was trading at around $9,300 on that day. Since then, the price of the cryptocurrency has risen almost 511% to $56,805 at the time of writing.


Bill Gates Thinks the World Is Better Off Without Cryptocurrency Innovation


Another interview published Thursday where Gates talked about cryptocurrency was with The Wall Street Journal. Responding to the question, “What’s the one tech innovation the world would be better off without?” he said: The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that.


However, Gates quickly added, “I probably should have said bioweapons. That’s a really bad thing. We shouldn’t have technology for that.”


According to Forbes’ real-time list of billionaires, Gates ranks fourth with a net worth of $124 billion. The first on the list is Amazon CEO Jeff Bezos with $189 billion in net worth, followed by Tesla and Spacex CEO Elon Musk with $182 billion, and then Bernard Arnault with $159 billion.


Meanwhile, Microsoft has been granted a patent for a “cryptocurrency system using body activity data.” This crypto-mining system leverages human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots, and reading ads.


What do you think about Bill Gates’ remarks regarding bitcoin and cryptocurrencies? Let us know in the comments section below. Paid in Bitcoin: NFL Offensive Tackle Russell Okung Considered the Highest Paid in the League FEATURED | 1 day ago Mexico"s Third-Wealthiest Individual Adds Bitcoin to His Twitter Bio FEATURED | 5 days ago Tags in this story bill gates bitcoin, bill gates btc, bill gates crypto, bill gates cryptocurrency, bill gates neutral bitcoin, bill gates owns bitcoin, gates foundation bitcoin, microsoft bitcoin, microsoft founder


Image Credits: Shutterstock, Pixabay, Wiki Commons Use Bitcoin and Bitcoin Cash to play online casino games here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Robert Kiyosaki Discusses Why Gold, Silver, Bitcoin Are Rising Higher
Robert Kiyosaki Discusses Why Gold, Silver, Bitcoin Are Rising Higher The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has shared his view on why the
Reserve Bank of Australia Unveils Proposed CBDC Use Cases
Reserve Bank of Australia Unveils Proposed CBDC Use Cases The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large num
FTX issues warning on authorized bids and asset sales
Amaka Nwaokocha12 hours agoFTX issues warning on authorized bids and asset salesThe former exchange explained that when the FTX Debtors sell locked digital assets, the terms and conditions governing the schedule for unlo
Analyst Says “The Clock Is Ticking” For XRP — Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Gaming Platform Enjin and Metaverseme Merge NFTs With Augmented Reality to Enhance Gaming Experience
Gaming Platform Enjin and Metaverseme Merge NFTs With Augmented Reality to Enhance Gaming Experience The blockchain gaming platform, Enjin and Metaverseme, an au
Post-Shapella Hard Fork: Ethereum Deposits Exceed Withdrawals, Wait Time Climbs, ETH Transfer Fees Jump
Post-Shapella Hard Fork: Ethereum Deposits Exceed Withdrawals, Wait Time Climbs, ETH Transfer Fees Jump It has been a week since Ethereum’s Shapella hard fork, and statistic
Facebook, Instagram go down on Super Tuesday, take Meta stock price with them
Derek Andersen5 hours agoFacebook, Instagram go down on Super Tuesday, take Meta stock price with themThe price for Meta had just hit an all-time record when its biggest social media was hit with a major outage.8823 Tota
Tom Mitchelhill3 hours agoPlay-to-earn games are the reason ‘real’ gamers hate crypto: Atari founderCrypto games have garnered a bad reputation among traditional gamers, but the future of Web3 games and blockchain-ba
Ethereum Plans ‘Shapella’ Transition on Zhejiang Testnet — Dev Insists ‘Withdrawals are Coming’
Ethereum Plans ‘Shapella’ Transition on Zhejiang Testnet — Dev Insists "Withdrawals are Coming" Ethereum core developers plan to activate the “Shapella” transit
Report: Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency
Report: Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank
Kripto Terbaik untuk Dibeli Sekarang: 5 Token Siap Meledak 100x?
Pasar kripto di awal tahun 2025 mengalami awal yang lambat, dengan Bitcoin jatuh di bawah $100k dan altcoin mengikuti tren penurunan. Namun, para analis memprediksi bahwa tahun ini
Chainlink integration adds transparency to 21Shares Ether ETF
Zoltan Vardai10 hours agoChainlink integration adds transparency to 21Shares Ether ETFThe integration aims to create more transparency for 21Shares’ Ether ETF, which could create more trust among investors.1309 Total v