JAKARTA – The founder of Microsoft, Bill Gates revealed his reasons regarding cryptocurrencies. Gates explicitly admits that he does not invest in Bitcoin or other cryptocurrencies.
This was stated by Gates during a Reddit Ask Me Anything (AMA) session that took place on Thursday, May 19, 2022. When he was asked if he had Bitcoin, he replied: “I don't have one. I like to invest in things that have a worthwhile return.”
Furthermore, Gates stated that the value of crypto is decided by someone else.
He added: “A company's value is based on how they make great products. The value of crypto is simply what other people decide for others so it doesn't add (value to) society like other investments."
In line with Gates' view, Barkshire Hathaway boss Warren Buffet stated his reasons for not investing in Bitcoin or other cryptocurrencies.
"It (Bitcoin) does nothing," Buffett said. “What am I going to do with it? I have to resell it to you one way or another. It won't do anything," he said.
Previously, Gates had stated that cryptocurrencies were used by criminals. Hence, he judged “it would be best to get rid of him.”
The Microsoft founder also briefly commented on Elon Musk who bought Bitcoin in 2021. According to him, Elon Musk has excess money, so he doesn't have to worry about Bitcoin price volatility.
"Elon has a lot of money, and he's very sophisticated, so I don't worry about his bitcoins going up or down randomly," Gates said.
"If you have less money than Elon, you might have to be careful," he concluded.
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