Fun

Bill Gates: Crypto Has No Valuable Output — It’s Not Adding to Society Like Other Investments

News Feed - 2022-05-22 10:05:41

Bill Gates: Crypto Has No Valuable Output — It"s Not Adding to Society Like Other Investments


Microsoft co-founder Bill Gates has explained why he does not own any bitcoin or other cryptocurrencies. “I like investing in things that have valuable output,” Gates said, adding that crypto is “not adding to society like other investments.” Bill Gates on Crypto, and Why He Isn’t Investing


Microsoft co-founder Bill Gates shared his opinion about bitcoin and cryptocurrencies in a Reddit AMA (Ask Me Anything) session Thursday.


One of the questions he was asked was “What do you think about bitcoin and cryptocurrencies?” Gates replied: I don’t own any. I like investing in things that have valuable output.


He added: “The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments.”


Gates’ stance on cryptocurrency echoes that of Berkshire Hathaway Warren Buffett. The Oracle of Omaha explained in detail why he would not invest in bitcoin or cryptocurrency earlier this month.


“It doesn’t produce anything,” Buffett described BTC, noting that he wouldn’t pay $25 for all of the bitcoin in the world. “What would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything,” he opined.


The Microsoft co-founder and co-chair of the Bill and Melinda Gates Foundation has long been a critic of bitcoin and cryptocurrency.


In February last year, he said he didn’t own bitcoin, adding that he has taken “a neutral view.” However, he also saidcrypto was one tech innovation the world would be better off without. Gates noted: “The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that.”


Gates also commented on Tesla CEO Elon Musk owning bitcoin in February last year. “Elon has tons of money, and he’s very sophisticated, so I don’t worry that his bitcoin will randomly go up or down,” Microsoft co-founder said. “If you have less money than Elon, you should probably watch out,” he warned. Tags in this story bill gates, bill gates bitcoin, bill gates crypto, bill gates cryptocurrency, bill gates own bitcoin, Elon Musk, Microsoft cofounder, Warren Buffett


What do you think about Bill Gates’ comments about bitcoin and cryptocurrency? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Facebook Owner Meta Files Trademark Applications for "Meta Pay" Covering Crypto Services FEATURED | 1 day ago Do Kwon Dissolved Terraform Labs Korea Days Before Collapse of Terra LUNA, UST FEATURED | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRich Dad Poor Dad’s Robert Kiyosaki Thinks Bitcoin Could Bottom Out at $9K — Reveals Why He Remains Bullish Next articleReport: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony Show comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Best Altcoins to Buy as Long-Term $BTC Holders Continue to Remain in Profit Despite Recent Turbulence
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
Elon Musk Promises to Make ‘Significant Improvements’ to Twitter — Calls Crypto Spam Bots ‘Single Most Annoying Problem’
Elon Musk Promises to Make "Significant Improvements" to Twitter — Calls Crypto Spam Bots "Single Most Annoying Problem" Tesla and Spacex CEO Elon Musk has joined Twitter’
Nifty News: 3 Bored Apes gone phishing, fantasy.top fees beat Tron and more
Jesse Coghlan4 hours agoNifty News: 3 Bored Apes gone phishing, fantasy.top fees beat Tron and moreOne unlucky BAYC holder just lost $167K in Bored Ape NFTs, Ronaldo’s still on the hook for Binance NFTs, and a fantasy
NFT sales down 44%, Logan Paul sues Coffeezilla: Nifty Newsletter
Prashant Jha4 hours agoNFT sales down 44%, Logan Paul sues Coffeezilla: Nifty NewsletterLogan Paul claims YouTuber Stephen Findeisen, also known as Coffeezilla, “maliciously and repeatedly” made false statements abou
US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order
US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order The U.S. Treasury Department has delivered a framework for crypto assets to President Joe Biden, fulfi
David Attlee10 minutes agoCouncil of Europe adopts DAC8 crypto tax reporting ruleThe eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union63 Total views
Tristan Greene6 hours agoJudge denies stakeholders’ request for representation in Celsius bankruptcy caseThe judge also declined to declare the CEL token “not a security,” despite related rulings in the SEC v. Ripp
Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time
Este artículo también está disponible en español. The Bitcoin price and the entire crypto market have been on a tear since the outcome of the United States elections was
Minxie Launches NFT Project That Aims to Provide the Untapped Creator Economy With Solutions Through Blockchain
Minxie Launches NFT Project That Aims to Provide the Untapped Creator Economy With Solutions Through Blockchain press release PRESS RELEASE.“NFTs aren’t dead, they are going to
Global Crypto Owners Predicted to Surpass 1 Billion This Year
Global Crypto Owners Predicted to Surpass 1 Billion This Year The number of global crypto owners is expected to exceed one billion by the end of the year, according to a report by
ECB Raises Benchmark Rate by 75bps and Tones Down Long-Term Refinancing Operations
ECB Raises Benchmark Rate by 75bps and Tones Down Long-Term Refinancing Operations On Thursday, the European Central Bank (ECB) announced the central bank’s third consecutive ben
Bitcoin, Ethereum Technical Analysis: BTC Hits 1-Month Low, Following Easter Selloff
Bitcoin, Ethereum Technical Analysis: BTC Hits 1-Month Low, Following Easter Selloff Following a weekend of bearish pressure, BTC’s price fell to its lowest level in over a