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

Dr. Patrick Schueffel3 hours agoHow will CBDCs be used for political oppression in your country?Central bank digital currencies (CBDCs) are poised to give politicians unprecedented power to track your data, restrict your
Tom Mitchelhill9 hours agoEthereum surges 11% after report SEC is set to approve Futures ETFThe United States Securities and Exchange Commission isn"t likely to block the debut of Ethereum futures ETFs, according to sour
Biggest Movers: AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low
Biggest Movers: AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low SOL was down by as much as 14% on Wednesday, as prices fell close to a one-week low earlier today. In
TRON Targets $5 As Stablecoin Supremacy Drives Market Surge — Analyst
Este artículo también está disponible en español. The market activity of TRON (TRX) has experienced a remarkable surge, resulting in the company making headlines. In Nove
OCC’s Brian Brooks Against Government Issued Digital Dollar – Supports Regulation of Privately Issued Stablecoins
OCC"s Brian Brooks Against Government Issued Digital Dollar – Supports Regulation of Privately Issued Stablecoins The acting director of the U.S. Office Comptr
Crypto firm 7RCC is quietly advancing its eco-conscious spot Bitcoin ETF
Martin Young3 hours agoCrypto firm 7RCC is quietly advancing its eco-conscious spot Bitcoin ETFThe NYSE has informed the SEC of its proposal to list and trade shares of the 7RCC spot Bitcoin and Carbon Credit Futures ETF
Turkey Drafting Crypto Bill to Submit to Parliament in Coming Weeks: Report
Turkey Drafting Crypto Bill to Submit to Parliament in Coming Weeks: Report Turkey is reportedly drafting crypto legislation to be submitted to parliament in the coming weeks. The
Argentinian Government Inquires About Energy Bitcoin Mining Companies Use Amidst Power Cuts
Argentinian Government Inquires About Energy Bitcoin Mining Companies Use Amidst Power Cuts The Argentinian government is starting to inquire about the power consumption of bitcoin
‘Disable iMessages’ ASAP to avoid crypto zero-day exploit: Trust Wallet
Brayden Lindrea8 hours ago‘Disable iMessages’ ASAP to avoid crypto zero-day exploit: Trust WalletThe firm’s CEO, Eowyn Chen, shared a screenshot of the supposed “high-risk” exploit being sold on the dark web fo
Jesse Coghlan7 hours agoCircle CEO spells doom scenario for US dollar in warning to CongressJeremy Allaire claimed the U.S. dollar is “under threat” and urged lawmakers to pass stablecoin regulation to “build trust
The EURST Stablecoin Set the Path That Major Central Banks Now Want to Follow
The EURST Stablecoin Set the Path That Major Central Banks Now Want to Follow From Asia to Europe, major central banks all around the world are expected to annou
Tori Zero NFT Project Launched a Joint Cooperation With BWL, the World’s Top Trendy Silver Jewelry Brand
Tori Zero NFT Project Launched a Joint Cooperation With BWL, the World"s Top Trendy Silver Jewelry Brand press release PRESS RELEASE. The Tori Zero NFT project announced a joint coo