“If You Have Less Money Than Elon, Be Careful,” Bill Gates Warns About Bitcoin – BeInCrypto

It is well known that billionaire Bill Gates is not a fan of cryptocurrencies. In an interview that he gave to Bloomberg last year and that has just come to light, the billionaire co-founder of Microsoft was wary of Bitcoinparticularly because of the effect an Elon Musk tweet could have on the price.

“Elon has tons of money and is very sophisticated, so I don’t worry about his Bitcoin going up or down randomly”Gates noted. “I think people get caught up in these manias that they may not have as much money to spare, so I’m not bullish on Bitcoin.”

“If you have less money than Elon, you should probably be careful,” he added. Forbes esteem that Musk has a fortune of more than 300,000 million dollars, while Gates follows with $134 billion.

However, Gates said the Bill and Melinda Gates Foundation “does a lot in terms of digital currency”, but only when “you can see who is doing the transaction”. She added that “Digital money is a good thing”, especially when it comes to financing the poorest countries and getting “money to their citizens very, very efficiently”.

Change may be coming. President Joe Biden just signed an executive order encouraging federal agencies such as the US Treasury to develop new policy recommendations related to cryptocurrencies, with a view to addressing consumer protection, financial stability, illicit activity and US competitiveness, financial inclusion and responsible innovation .

Until now, institutional investment space for BTC looks positive after a prolonged period of departure. The data CoinShares weekly entry of last week suggest tickets worth 17 million dollars for BTCa positive figure for the fifth consecutive week.

However, on the Bitcoin holders front, several indicators in chain they still are bassists.

Many industry players have been betting on higher long-term price predictions. Gates’s discontent with Bitcoin also appears to stem from risk inherent in the asset class. He said in the past, ″ [Bitcoin] promotes anonymous transactions. They are not reversible transactions.

And we know that Bill Gates is not the only skeptic. Fellow billionaire and Berkshire Hathaway Vice President Charlie Munger has called cryptocurrencies a “venereal disease.” And JP Morgan Chase CEO Jamie Dimon has previously said that BTC is “worthless.”

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“If You Have Less Money Than Elon, Be Careful,” Bill Gates Warns About Bitcoin – BeInCrypto