Bill Gates’ opinion on NFTs: ”They are based on the dumbest theory”

Bill Gates is not a fan of the cryptocurrency market and those businesses related to these assets. There have been several occasions in which he has spoken about it, such as last March, where he emphatically stated that: “If you don’t have as much money as Elon Musk, be careful”, referring to thedistrust caused by cryptocurrencies due to high volatility of its value.

However, more recently it was pronounced again due to the popularity of the famous NFT (Non-Fungible Token) known as Bored Apes (“Boring Apes”). Once again, the billionaire showed his rejection of the blockchain world.

‘Monkey fever’

The Bored Apes are some designs of colored monkeys that are acquired by paying for cryptocurrencies. The furor they caused on the Internet was such that for months the price of the most coveted stood at almost half a million dollars. Nevertheless, its price has been drastically reduced with the increasingly pessimistic outlook in which cryptocurrencies find themselves. For example Bitcoin and Ethereumthe two most valuable cryptocurrencies today, have both plummeted around 15% in the last 7 days.

About this collection of monkeys, Gates himself commented: “They are based on the theory of the dumbest, that someone will end up paying“. He himself explains that the dizzying price increases that these NFTs experienced were due to the enormous popularity that Bitcoin enjoyed until not long ago, as well as the viral phenomenon that these apes became on the internet.

For Gates, the last (“the dumbest”) to acquire these NFTs has been saddled with losses related to the widespread crypto market crash. “Obviously, some expensive digital images of monkeys are going to improve the world a lot,” said the American tycoon sarcastically, during a colloquium on the environment organized by the magazine specialized in technology tedcrunch.

A service “used to evade taxes”

In the same interview, Bill Gates explained that at no time was he betting on the blockchain world: “I’m not involved in that. [invierto] short or long”. He explained it by stating that he prefers to allocate funds to companies that create real products, not to a service “whose anonymity is used to evade taxes”. He then commented that: “I’m used to assets that make products, like a farm or factory“.

The tycoon claimed to be focused on finding solutions that could curb global warming as well as prevent future pandemics. And it is that, while he invests in those ideas that he considers can help to improve the world, he has also dedicated his last two works to climate change and the issue of potential new diseases.

Thus, the statements of fourth richest man in the world they go hand in hand with a very complicated scenario for cryptocurrencies. And it is that the Bank of America has recently declared that the financial collapse of Bitcoin is the largest in 50 years, and the fifth strongest in history. In just one year, the main cryptocurrency has suffered a 77% drop: from a high of $69,000 to a current value of around $16,900.