Bill Gates, the founder of Microsoft spoke once more about Bitcoin. This time he made a warning to digital currency investors who don’t have as much money as Elon Musk.
In an interview with Bloomberg, Gates suggested that Elon Musk has knowledge of sophisticated business management techniques that the average investor does not know.
Tesla CEO tweets often move markets and several people, especially the cryptocurrency market.
When asked about the possibility of Bitcoin’s price falling after a “simple tweet” (a reference to Elon Musk), Gates said that Tesla’s founder is probably not impacted by such market declines like other people:
“Elon has a lot of money and is very sophisticated. I don’t worry if his Bitcoin will go up or down, I think people are attracted to these ‘crazes’ because they may not have a lot of money, so I’m not optimistic about Bitcoin. My general thought would be… if you have less money than Elon, you should probably be careful. ”
— Bloomberg Technology (@technology) February 23, 2021
Bill Gates is not optimistic about Bitcoin
Journalist Emily Chang also asked about the fact that Tesla has already profited more from its investment in Bitcoin than from car sales. Bill Gates once again made it clear that he is not optimistic about cryptocurrency, although he believes digital money is a good thing.
Gates explained that he doesn’t like the fact that Bitcoin consumes a huge amount of energy and its transactions are anonymous and irreversible. He said he is more enthusiastic about digital currencies.
“It turns out that Bitcoin uses a lot of energy and promotes anonymous transactions. They are not reversible transactions ”said Gates.
The Bill And Melinda Gates Foundation has pledged to support the digitization of currencies in developing countries. Bill Gates noted that digitizing currencies will save the overhead of running traditional monetary systems.
“Our foundation is very proud that, in the pandemic, many of the countries we finance to do this have managed to distribute money to their citizens very efficiently”, he said, noting that while such projects do not have the visibility of Bitcoin, the shift towards digital money is a positive thing.
Although Bill Gates now says he is not optimistic about Bitcoin, last week he said he was neutral about cryptocurrency.
In addition, Microsoft is not considering adding Bitcoin to its balance sheet, according to the company’s president, Bradford Lee Smith.