Microsoft’s founder and fourth-richest man in the world revealed he doesn’t invest in any crypto assets during a recent “Ask Me Anything” session on Reddit.
He said that he exclusively invests in assets that serve a useful purpose. He believes that firms’ worth is based on the quality of their goods, but cryptocurrencies’ value is completely dependent on the belief that someone else would buy them at some point in time.
Gates has been a longstanding critic of bitcoin. He also voiced worry that more and more individuals were being drawn into the hyped-up world of cryptocurrency in a February interview with Bloomberg.
When it comes to cryptocurrency, billionaires have wildly divergent viewpoints. With supporters on one side and critics on the other, they may even be split into two factions.
Supporters include well-known personalities like former Twitter CEO Jack Dorsey, who resigned to concentrate more on his crypto-oriented firm, Block.com (formerly Square). With Elon Musk, the world’s wealthiest man, in the same gang, who constantly flirts with crypto aficionados and swings the market with only a few tweets, Maybe Jeff Bezos, who is said to have invested millions of dollars in crypto-assets and has been in contact with Dogecoin’s creator in recent days, although this isn’t confirmed.
According to the anti-crypto alliance that Bill Gates has joined, crypto is a bubble and a Ponzi scheme. Warren Buffett and other Wall Street legends have repeatedly said that crypto is a Ponzi scheme. When the dust settles, we’ll know which of them was correct.
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