Bill Gates: bitcoin is „only for billionaires like Elon Musk“

Bill Gates: Bitcoin is „only for billionaires like Elon Musk“

In an interview with Bloomberg, Microsoft founder Bill Gates tells how dangerous Bitcoin can be for small investors.

In keeping with the current drop in the crypto market, Bill Gates speaks out. According to Gates, you shouldn’t touch Bitcoin unless you’re as rich and thoughtful as Tesla CEO Elon Musk is. In an interview with Bloomberg on 23 February, Gates shared this stance: „Elon has lots of money, and he’s very thoughtful.

I’m not worried that his bitcoins are going to go up or down somehow randomly […] my general thought would be if you have less money than Elon, you should probably watch out.“ Gates worries that many small investors who bought in the Bitcoin Evolution current bull market will not be able to cope with coming price falls. In the interview, the once richest person in the world explains that Bitcoin requires too much energy and promotes anonymous irreversible transactions. Therefore, he says, a fall in the price is to be expected.

Nevertheless, he claims that digital money is a good thing if it can be traced: „The Gates Foundation is doing a lot in terms of digital currency, but these are things where you can see who is making transactions. So, digital money is a good thing.“

Gates expects digital money to play a big role in the world’s poorest countries

By his own admission, Bill Gates is neutral on Bitcoin. The statements in the Bloomberg interview are said to be an objective opinion: „I don’t own Bitcoin. I’m not short on Bitcoin. So I have a neutral view.“

In a previous interview with CNBC, the Microsoft founder revealed that he had changed his view on Bitcoin from negative to neutral. Previously, Gates had bet against bitcoin with a short bet.