Billionaires who have transformed from Microsoft founder to global philanthropist Bill Gates to Tesla CEO Elon Musk are studying Bitcoin (even Mark Cuban can’t resist ).
After Musk pushed up the price of Bitcoin by a pro-Bitcoin tweet, Tesla added $1.5 billion worth of Bitcoin to the balance sheet, thereby pushing up the price of Bitcoin.
Now, senior Fed officials are surprised by Bitcoin’s latest bull market performance, and Bill Gates warns that people with less money than Musk should “beware.”
Gates told him: “Elon has a lot of money and he is very experienced, so I don’t worry about his Bitcoin going up or down randomly.” Bloomberg In the interview, “I do think that people are bought by these enthusiasts, and they may not have that much money to save. My general idea is that if you have less money than Elon, you should beware.”
Later, in a speech on Clubhouse, the invited chat application, Gates said that he had not personally invested in Bitcoin, and told the host Andrew Sorkin that he would prefer to invest cash in “manufacturing products”. Companies, and he did not choose based on whether they would appreciate.
The price of Bitcoin is known for its extremely high volatility, after falling below $4,000 in March 2020, it climbed to nearly $60,000 last week. It bounced back throughout the summer and started its latest bull market in October, with the performance of institutional investors renewing the December 2017 high. Interest in digital assets.
Last week, the total value of the 18.6 million Bitcoin tokens in circulation reached USD 1 trillion for the first time, twice the USD 500 billion that began in 2021, when the cryptocurrency frenzy took effect again.
Musk briefly made Amazon founder Jeff Bezos the world’s richest man this year. He has long been a supporter of Bitcoin and cryptocurrencies-often tweeting about “just kidding” Bitcoin Relative to Dogecoin news. Some people believe that Musk’s casual tweets may attract the attention of US regulators.
Despite the nearly 20% drop in the price of Bitcoin last week, many in the Bitcoin and cryptocurrency community are still optimistic about its prospects-pointing out that the specter of inflation is due to its limited supply that has sparked interest in Bitcoin.
Artur Sapek, general manager of Cryptowatch, a cryptocurrency trading and mapping platform, said in an email: “With the Federal Reserve’s renewed commitment to maintaining economic support and the prospect of a new stimulus package, market concerns about sudden increases in inflation are increasing.”
“Regardless of whether inflation is truly realized, the fact of today’s Bitcoin surge highlights that the market is beginning to understand and recognize the value proposition, rather than supporting the foundation of this $950 billion asset.”