The founder of Microsoft and the fourth richest man in the world said at a recent “Ask Me Anything” event on Reddit that he has not invested in any cryptocurrencies. Gates stated that he only invests in assets that have a valuable function. So, according to Gates, the value of companies is based on the production of great products, while the value of cryptocurrencies, in his view, is based only on speculation that in the future someone else will pay for them.
Gates has long been skeptical of cryptocurrencies. In an interview with Bloomberg in February, the billionaire expressed his concern that more and more people are being drawn into the hyper crypto world.
Billionaires split
Billionaires have very different views on cryptocurrencies. It has its supporters on one side and opponents of the new asset class on the other.
Proponents have long sided with well-known names like Jack Dorsey, the ex-CEO of Twitter, who stepped down to focus on his crypto-focused company, Block (formerly Square). In the same group is Elon Musk, the richest man in the world, who regularly flirts with crypto enthusiasts and stirs the whole market with his single tweets.
On the other hand, there is the anti-crypto coalition, including Bill Gates, Wall Street legend Warren Buffett, whose members regularly point out that crypto is a bubble and just a Ponzi scheme.
