This is something interesting to hear a clear-cut opposition of Bitcoin from one of the world’s most influential and richest person. Bill Gates in his interview with CNBC on Monday expressed:
“I would short it if there was an easy way to do it. As an asset class, you’re not producing anything, so you shouldn’t expect it to go up”
Bill Gates’s thorough opinion about Bitcoin
In the same interview, the Tech Giant further added that he once received Bitcoins as a gift on his birthday but he sold them the next year. He also called that the investment is a type of a pure ‘greater fool theory’.
Please also read: Wall Street Analyst Advises not to do crypto trading for now
Bill Gates said Bitcoin is responsible for death
Although he said so in one of his previous interviews but this stamps the maturity and seriousness of his believes about Bitcoin. He clearly held the pioneer crypto currency responsible for death of many. The reason he called so was that people are buying illegal drugs through Bitcoin which is directly harming people’s health.
“Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way”
His views about blockchain technology
Contrary to his thoughts about Bitcoin, he praises Blockchain technology and calls it valuable and important. The irony of that fact is that Bitcoin is the first application of Blockchain and most of the crypto currencies are promoting themselves merely because of it. Although he believes blockchain to be worthy of implementing but he calls the dirgital currency a crazy and speculative thing.
Tyler Winklevoss challenged Gates to prove the serenity of his words
Tyler Winklevoss is the found of Gemini, a crypto exchange. He challenged Mr. Gates to prove the serenity of his words and actually do it instead of bragging about.
“Dear @ BillGates there is an easy way to short bitcoin. You can short #XBT, the @CBOE Bitcoin (USD) Futures Contract, and put your money where your mouth is”
Warren Buffet also holds similar opinion about Bitcoin
Buffett is a billionaire investor and an influential personality. He called in his speech addressing to thousands of attendance that bitcoin as rat poison.
However there is also positive news from the market about banks considering taking crypto trading as a valid option.
Please read this: Goldman Sachs Bank Decides to start Crypto Trading
What makes the claim controversial
it also seems that Bill Gates feel insecure from Bitcon because he is protecting a Fiat Currency which makes him the richest person on earth. The question arises that why would he praise or admire crypto currency which is threatening his place in the list of the richest person. This could be the reason that the old billionaires are actively opposing and criticizing the presence of digital currencies. They are backing blockchain because most of the industry players are adopting this technology for their own advantages.
