Microsoft founder Bill Gates is no longer a Bitcoin bear. He is now neutral on Bitcoin investment. However, as an innovation, he said that cryptocurrency is a world, without it, it would allow certain criminal activities, so the world would be better.
Bill Gates changed his view on Bitcoin
Bill Gates talked about Bitcoin and cryptocurrencies in two independent interviews on Thursday. One was at CNBC, and he was asked about his views on Bitcoin, “in the context of climate change, he saw how Bitcoin is expending a lot of energy for digital mining”. Gates answered simply:
I don’t have Bitcoin. I am not short bitcoin. Therefore, I hold a neutral view.
Gates continued: “Bitcoin can rise and fall based on frenzy or any opinion, I have no way to predict the rise.”
The Microsoft founder added: “I do think that turning funds into a more digital form and reducing transaction costs is what the Gates Foundation does in developing countries. But here, we do this so that you can undo Transactions, so we can fully understand who is doing what. This has nothing to do with tax avoidance or illegal activities.”
Gates has always disliked Bitcoin. In an interview with CNBC in 2018, he, Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger talked about Bitcoin’s worthlessness.
“As an asset class, you don’t produce anything, so you shouldn’t expect it to rise. Gates pointed out that this is a pure “big fool theory” investment. “If there is an easy way, I will short. On that day, BTC was trading at approximately US$9,300. Since then, at the time of writing, the price of cryptocurrency has risen by nearly 511% to US$56,805.
Bill Gates believes that without cryptocurrency innovation, the world would be better
In another interview published on Thursday, Gates talked about cryptocurrency as the Wall Street Journal. To answer this question: “If there were no such world, which kind of technological innovation would be better in the world?” He said:
Nowadays, the way cryptocurrencies work allows certain criminal activities. It would be nice to get rid of it.
However, Gates quickly added: “I should probably talk about biological weapons. That’s really a bad thing. We shouldn’t have technology for this.”
According to Forbes’ real-time list of billionaires, Gates ranked fourth with a net worth of $124 billion. At the top of the list is Amazon CEO Jeff Bezos (Jeff Bezos) with a net worth of US$189 billion, followed by Tesla and Spacex CEO Elon Musk with a net worth of 182 billion. US dollars, followed by Bernard Arnault (Bernard Arnault), worth 159 billion US dollars.
At the same time, Microsoft has obtained a patent for “encrypted currency system using physical activity data.” When performing online tasks (for example, using search engines, chat bots, and reading advertisements), the cryptocurrency mining system uses human activities, including brain waves and body heat.
What do you think of Bill Gates’ comments on Bitcoin and cryptocurrencies? Let us know in the comments section below.
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