Skip to content

Bill Gates would love Bitcoin short, so why not him?

--Advertisements --

Join our community of 10,000 traders on for only $ 39 a month

Billionaire Bill Gates is a notorious bitcoin skeptic who says he would bet against him there he could because he believes that crypto-currencies are worthless the investments that people profit from by pledging their holdings to a "bigger fool" than they themselves.

Bitcoin an investment of the "Big Crazy Theory"

"I run it in there was an easy way to do it," Gates told CNBC on May 7 during a joint interview with his friends Warren Buffett and Charlie Munger. "As an asset class, you do not produce anything, so you should not expect it to increase.This is a kind of pure" theory of great madness "(19459010)

The three tycoons met this weekend because they are members of the Berkshire Hathaway Board of Directors, which held its annual meeting of shareholders on May 5th. At the meeting, Berkshire Buffett's CEO once again criticized Bitcoin. poison squared ", as reported by CCN.

Like other speculators of cryptocurrency, Bill Gates conceded that the blockchain, the technology behind bitcoin, can be very useful, but that virtual currencies are nothing more than crazy and speculative investments.

"Bitcoin and ICOs, I completely believe that [they’re some] more crazy, speculative things [you could invest in]," he said

-- Advertisements --

Gates – whose net worth reaches $ 91 billion thanks to the de facto monopoly enjoyed by Microsoft for decades – said that someone had given him a bitcoin for his birthday, but he did sold.

Of course, if Gates really wanted to make a short circuit, he has a variety of options. Even if he does not feel comfortable trading on a cryptocurrency exchange such as BitMEX, he could easily open a short position on future bitcoin on CBOE, CME or maybe even the new bitcoin derivative product from Goldman Sachs.

That he does not do it – even while protesting that he wishes he could – is revealing.

The Berkshire Bitcoin Dam Continues

 berkshire hathaway buffett bitcoin "width =" 750 "height =" 500
Warren Buffett and Charlie Munger of Berkshire Hathaway were among the fiercest critics of bitcoin

During the same interview, billionaire Charlie Munger – the vice president of Berkshire Hathaway – called bitcoin "worthless" and useless.

"Bitcoin is worthless, artificial gold," said Munger. "This is not something the world needs.The fact that it is a smart computer science does not mean that it should be widely used, and that respectable people should encourage others to speculate there. Above, Bitcoin reminds me of Oscar Wilde's definition of fox hunting: "The pursuit of the unbeatable by the unspeakable." "

-- Advertisements --

Munger, 94, said the bitcoin trade is similar to defenseless people with feces of dementia to follow everyone. "[It’s] like someone else is trading turds and you are left out," he said.

Bill Gates' skepticism with regard to Crypto is not a surprise given his cynical look at the entire market.

As NCC has already reported, Gates blames bitcoin for drug-related deaths, claiming that cryptocurrencies are reference vehicles for the illegal sale of drugs and money laundering.

"At present, cryptocurrencies are used to buy fentanyl and other drugs, so it's a rare technology that caused deaths quite directly", said Gates in March 2018. "I think the speculative wave surrounds the ICOs and the crypto currencies are super risky for those who go there a long time."

The new bull tech guard on cryptocurrency

Despite the bearish side of these billionaire 'old guard' bumps, the new crop of tech billionaires is no doubt that bitcoin is the unstoppable wave of the future.

"I am 100% convinced that crypto is the future," Binance founder Changpeng Zhao told Bloomberg. "I just know it will happen."

-- Advertisements --

Similarly, the Winklevoss twins Tyler and Cameron (estimated net worth: $ 900 million to $ 1.1 billion) say that bitcoin skeptics who crypto-crypto reject suffer from a "failure". imagination "epic.

Follow us on Telegram.


See also  Interstellar Bond: Stellar Lumens Up To 50%, Surpasses Litecoin At $ 16 Billion