The world’s richest men are split on cryptocurrency, and recent statements from Bill Gates reveal that he remains skeptical of the asset class. Despite this, it is worth noting that Microsoft, a company he founded and once controlled, has taken an active interest in the markets.
Bitcoin Produces Nothing, Says, Bill Gates
Bill Gates has said he does not own any cryptocurrency, speaking during an Ask Me Anything (AMA) session on the social media platform Reddit. Instead, the former Microsoft chief and 4th richest person expressed concern that the crypto markets were driven purely by speculation instead of utility.
“I don’t own any [crypto]. I like investing in things that have valuable output. 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,” said Gates.
It’s not the first time the billionaire has expressed skepticism about the...
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