In a recent Reddit AMA (Ask Me Anything) exchange, billionaire Bill Gates shared his honest opinion on crypto and why he chooses not to invest in it.
As the value of cryptocurrency declines, more of the super-wealthy are becoming more openly critical of it. Even Warren Buffett said his piece on Bitcoin recently.
It looks like the founder of Microsoft feels the same way.
People could ask Bill Gates about anything, and they chose crypto…
Thursday, May 19, Bill Gates posted an Ask Me Anything (AMA) thread on the Reddit forum to talk about his new book.
But the thread took a different direction.
One of the richest people in the world answered in the Reddit AMA that he “doesn’t own any digital currency.”
In response to whether Bill Gates would invest in crypto, the billionaire 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.”
However, this is not the first time the billionaire tech founder expressed concern about the digital investment trend.
Don’t invest in cryptocurrency, unless you’re Elon Musk
Our boy Billy G has been singing the same tune about this type of investment a while now. In February, he said as much in an interview with Bloomberg.
“If you have less money than Elon, you should probably watch out.”
Bill Gates doesn’t feel that investing in crypto is prudent for everyday people — or himself.
To wrap things up, I think it speaks volumes that successful entrepreneurs like Bill Gates and Warren Buffett aren’t investing in cryptocurrency.
There is a risk when you asset is intangible. Now, the rest of the world is seeing that as well.
Featured image source: Kuhlmann /MSC, CC BY 3.0 DE, via Wikimedia Commons