Bill Gates is neutral on Bitcoin but says cryptocurrency is an innovation the world can do without – Bitcoin Premium News
Microsoft founder Bill Gates is no longer just a bitcoin bear. It has now taken a neutral stance on Bitcoin as an investment. However, as an innovation, he says the cryptocurrency is one that the world would be better off without because it allows some criminal activity.
Bill Gates changes his mind about Bitcoin
Bill Gates spoke about bitcoin and cryptocurrencies in two separate interviews on Thursday. One of them was with CNBC where he was asked what he thought of Bitcoin “in the context of climate change, seeing how Bitcoin is consuming an enormous amount of energy to mine digitally.” Gates simply replied:
I do not own bitcoin. I am not short bitcoin. Therefore, I have taken a neutral view.
“Bitcoin can only rise and fall based on obsession or whatever views, and I have no way to predict how this will progress,” Gates added.
The Microsoft founder added, “I think converting money into a more digital form cuts down on transaction costs, and that’s something the Gates Foundation does in developing countries. But there, we’re doing it so you can reverse transactions so we have a complete view of who is doing what. It’s not about tax evasion.” Or illegal activities. “
Gates was not a 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 are not producing anything and so you should not expect it to go up.” Gates noted that it is a kind of pure investment of the type of “the big ass theory.” BTC It was trading at around $ 9,300 that day. Since then, the price of the cryptocurrency has risen roughly 511% to $ 56,805 at the time of writing.
Bill Gates believes the world is better off without the creation of the cryptocurrency
Another interview was published on Thursday in which Gates spoke about cryptocurrency with The Wall Street Journal. In response to the question, “What is the one technological innovation the world would be better off without?” He said:
The way the cryptocurrency operates today allows for some criminal activity. It would be good to get rid of that.
However, Gates added quickly, “Maybe I should have said biological weapons. That’s really bad. We shouldn’t have the technology for that.”
According to Forbes Real-time Billionaires List, Gates ranks fourth with a net worth of $ 124 billion. First on the list is Amazon CEO Jeff Bezos with a net worth of $ 189 billion, followed by Elon Musk, CEO of Tesla and SpaceX with $ 182 billion, and Bernard Arnault with $ 159 billion.
Meanwhile, Microsoft was granted a file patent For a “cryptocurrency system that uses body activity data”. This encrypted mining system takes advantage of human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots, and reading advertisements.
What do you think of Bill Gates’ notes on bitcoin and cryptocurrencies? Let us know in the comments section below.
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