Bill Gates Believes Crypto Doesn’t Have Product Value

Time Stamp: May 21, 2022 10:46 AM
Source Node: 1319430

Bill Gates believes crypto doesn’t have a product value so he prefers to invest in companies and not digital currencies so let’s read more today in our latest cryptocurrency news.

The computer programmer who co-founded Microsoft, Bill Gates believes crypto doesn’t have product value and hadn’t distributed some of his wealth into crypto. He said he likes investing in other things that have valuable output. One of the world’s richest people gave some interesting insight into the “Ask me Anything” on Reddit. Asked whether he has exposure to the crypto market, the billioanire said he doesn’t own any such assets because he invests in things that have a valuable output like companies that can make great products, and that is how they justify their value.

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On the other hand, he opined that crypto is what some other people decide where someone else will pay for and doesn’t add to society like other investments. At the start of 2021, Gates predicted that digital currencies will emerge as the main form of payment method but he took a neutral view on BTC saying he is not a HODLer and he would short it. After that, he warned people to be careful when investing in BTC as they could suffer severe financial losses and advised everyone that has less money than Elon Musk to watch out when getting into the digital asset universe. This emans that literally every single person in the Tesla CEO is the richest man in the world as of late.

Contrary to Gates’ skepticism, there are many investors that are keen on BTC and often praise it as a great investment tool. One such example is Steve Wozniak. He said the leading digital asset is much better than gold. The Puerto Rican billionaire Orlando Bravo is also very bullish on BTC and he classified BTC as a great asset that is here to stay. In his view, young people are attracted by its nature and they could establish future financial networks based on it. The co-founder of Starwood Capital Group Barry Sternlicht claimed that the BTC pre-determined maximum supply of 21 million makes it an appropriate hedge against inflation that made him invest in it.

Bill miller who also remains bullish on BTC despite the market crash, said the asset is an insurance against financial disaster while its value comes from the fact that it can’t be touched by the government.

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