Bill Gates has previously attacked cryptocurrency, arguing with Elon Musk last year about whether Bitcoin is too risky for individual investors and the environmental damage caused by mining currencies.
Speaking as the founder of Breakthrough Energy Ventures, the climate-focused fund he established in 2015, Bill Gates emphasized the difficulties of hiring Silicon Valley experts to work in businesses such as chemicals and steel production that require fewer greenhouse gas emissions.
Gates made the remark sarcastically while speaking at a TechCrunch event in Berkeley, California. He stated that he is neither long nor short in the asset class:
“Obviously, expensive digital images of monkeys are going to improve the world immensely,”
Bitcoin fell more than 15% on Monday and another 5.4% on Tuesday, part of a larger crypto selloff driven by higher-than-expected US inflation and the suspension of withdrawals by loan site Celsius. Popular NFT collections, such as the celebrity-favored Bored Ape Yacht Club (BAYC), have also taken a beating.
Gates also defended digital banking initiatives he’s sponsored through his philanthropic institutions, calling them “hundreds of times more efficient” than cryptocurrencies.
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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
CoinCu News
Degen Rollup Key Issue: Conduit seized Degen’s L3 private key, causing 54 hours of downtime…
As a wave of exciting developments continues to unfold in the crypto market, lots of…
Binance Proof of Reserves reveals $120 billion in assets across 34 tokens, showing growth in…
Discover how WallitIQ (WLTQ) emerged as the best cryptocurrency to invest in for 100x gains…
Explore the latest on TRON, insights on BNB prices, and how BlockDAG stands out as…
A Curve Finance scam app resurfaced on Apple's App Store for the third time, continuing…
This website uses cookies.