Bill Gates Does Not Own Any Cryptocurrency Because He Thinks That It Doesn’t Have Product Value

Because digital currencies lack “valuable output,” billionaire Bill Gates prefers to invest in companies rather than digital currency.

Bill Gates, the co-founder of Microsoft Corporation and an American computer programmer, claimed that he had not invested some of his money in cryptocurrencies. He stated that he prefers to invest in things that produce “valuable output,” claiming that digital assets do not meet this criteria.

On Reddit‘s interactive post “Ask me Anything,” one of the world’s wealthiest people, Bill Gates, answered some intriguing questions. When asked if he has any exposure to the Cryptocurrency market, the billionaire stated that he does not. Gates stated that he invests in things that produce “valuable output,” such as companies that have the potential to produce excellent products, as this is how they justify their value.

Crypto, on the other hand, he believes is “just what some other person decides someone else will pay for it, so it is not adding to society like other investments.”

Gates anticipated that digital currencies would eventually replace cash as the primary mode of payment in 2021. He did, however, take a “neutral” stance on bitcoin, stating that he is neither a HODLer nor a short seller.

Shortly after, he cautioned individuals to be extremely cautious when investing in BTC because they could lose a lot of money. He also cautioned anyone with less money than Elon Musk to “watch out” while investing in digital assets. Currently, this includes essentially everyone, as Tesla’s CEO is the richest man on the planet.

Despite Gates’ pessimism, many renowned investors and entrepreneurs are enthusiastic about Bitcoin and frequently promote it as a terrific financial instrument.

Steve Wozniak, one of Apple’s co-founders, is an example of this. He said last summer that the most valuable digital asset is better than gold, calling it a “mathematical miracle.”

Orlando Bravo, the first Puerto Rican billionaire, is also a big believer in Bitcoin. He described it as a “great,” “frictionless,” and “here to stay” asset. Young people, he believes, are drawn to it because of its decentralized structure, which could lead to the creation of a future financial network.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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