Microsoft co-founder Bill Gates explained why he does not own any bitcoins or other cryptocurrencies. “I love investing in things that have valuable outcomes,” Gates added, adding that crypto money does not contribute to society like other investments.
Bill Gates, the co-founder of Microsoft and co-chairman of the Bill and Melinda Gates Foundation, has been a longtime bitcoin and cryptocurrency critic. In February last year, he stated that he does not own Bitcoin and that he looks at the event objectively.
Gates also stated that a world without crypto would be better and that it was harmful. Gates had exactly this to say: “The way cryptocurrencies work today allows for certain criminal activities. We’d better get rid of this.” His new statements were also in this direction. Let’s look at the details.
‘Cryptocurrencies have no valuable output and are not useful to society’
Microsoft co-founder Bill Gates shared his views on bitcoin and cryptocurrencies at a Reddit AMA on Thursday. He was asked, “What do you think about Bitcoin and cryptocurrencies?” To the question, Gates replied: “I don’t own any crypto assets, I like to invest in things that have valuable outcomes.”
Gates continued, “The value of companies depends on how they produce great products. The value of crypto is determined by someone else’s decision to pay for it. It is not beneficial to society like other investment vehicles.”