Microsoft co-founder and Billionaire Bill Gates dismissed cryptocurrency projects such as nonfungible tokens (NFTs) as shams 'based on the greater-fool theory' at an event on Tuesday, reviving past criticisms of digital assets.
“Obviously, expensive digital images of monkeys are going to improve the world immensely," Bill Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch, adding that he is neither long nor short on the asset class.
Gates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins.
A broader crypto selloff was fueled this week by higher than forecast US inflation and the halt of withdrawals by the lending platform Celsius. Popular NFT collections, including the celebrity-favored Bored Ape Yacht Club (BAYC), are also being hit hard.
The global cryptocurrency market peaked at $2.9 trillion in November 2021, but it has...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...