Another Reason Why Crypto Holders Should Be Cautious About Bill Gates

By Anthony • January 16, 2023 4:36 pm • Comments

In some circles, Bill Gates is praised as a genius for being the co-founder of Microsoft.

In other circles, he is seen as a villain for his constant push for vaccines on 3rd world countries and for his previous friendship with convicted pedophile Jeffery Epstein.

But how should the cryptocurrency community view Gates?

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Well for starters Crypto holders should be very cautious of Gates for his past negative remarks about cryptocurrency.

Previously Gates told Forbes magazine in 2022  he holds no crypto and stated “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.”

Gates also stated, “If you have less money than Elon, you should probably watch out.”

Forbes broke the story:

Microsoft cofounder Bill Gates isn’t a fan of cryptocurrency.

Gates, now fourth-richest person in the world with a net worth of $125 billion, said during a Thursday Ask Me Anything exchange on Reddit that he doesn’t own any digital currency.

“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,” he said.

Gates has previously expressed some skepticism about Bitcoin. In a February interview with Bloomberg, the billionaire expressed concern for everyday people getting sucked into the Bitcoin frenzy. He probably has a point. The crypto market is in freefall after the collapse of the TerraUSD stablecoin last week, dragging down other digital currencies with it. Bitcoin is down 27% this month, while Ethereum has backslid 36%.

“If you have less money than Elon, you should probably watch out,” he said in February.

Most recently Gates had some words for WEB 3.

Here’s what Business Insider reported:

Bill Gates has weighed in on some of the buzziest concepts in tech, revealing he’s tepid about Web3 and the metaverse, but thinks artificial intelligence, or AI, is “quite revolutionary.”

The Microsoft cofounder was giving his take on tech trends at his annual Ask Me Anything session on Reddit, where he answered a handful of questions posed by Reddit users on a variety of subjects.

One Reddit user asked, “Many years ago, I think around 2000, I heard you say something on TV like, ‘People are vastly overestimating what the internet will be like in 5 years, and vastly underestimating what it will be like in 10 years.’ Is any mammoth technology shift at a similar stage right now?”

Gates replied: “AI is the big one. I don’t think Web3 was that big or that metaverse stuff alone was revolutionary but AI is quite revolutionary.”

 

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