The wealthy and renowned chairman highlighted that he does not have digital assets in his portfolio because they do not have what it takes to meet his investment requirement.
Billionaire and Microsoft co-founder Bill Gates had maintained a distant stance on Bitcoin for some time now.
Gates has commented that it is too speculative and not very supportive of climate issues due to its high energy consumption. Although, without letting too much fanaticism shine through, he has also recognized that crypto-assets and their tech background could be positive for countries under development and emerging economies.
Things do not seem to have become different since 2015 when the leader assured us that Bitcoin “is not the future.”
In an (AMA) session held on Reddit, Gates invited netizens on the online forum to talk to him about his book How to prevent the next pandemic, the work of his foundation, and other topics of interest The developer also revealed information about the AMA round to his nearly 60 million Twitter followers.
Among the round of questions and consults that the American scientist attended, a user invited him to open up about his current stance on Bitcoin and digital assets. Gates once again affirmed that he did not own any virtual currency and discussed that the reason is willing to invest in more valuable products, hinting that Bitcoin and other digital assets do not fit this criterion.
No Sympathy for Bitcoin
Gates had already highlighted last year during an interview for CNBC’s Squawk Box that he did not own Bitcoin, preferring to take a distant position regarding the asset. He then spoke with Bloomberg that the digital currency was only for “sophisticated” investors, like Elon Musk, recommending that the general public should have a distant stance regarding the crypto space.
Although more modest, his ideas remain in parallel with those he expressed in 2018, when he highlighted that Bitcoin was one of the craziest things to put an investment.
Gates, one of the wealthiest investors globally, has also joined the group of critics who negatively point out the energy consumption that Bitcoin applies in its activities.
The crypto space has been under tremendous pressure due to criticism over the carbon footprint of proof-of-work mining, which is seen in digital assets such as Bitcoin. Other billionaires have also openly revealed their rejection of the flagship digital asset, including Tesla CEO Musk.
The computer scientist who co-created Microsoft is not the only wealthy man skeptical about the new asset class. Other anti-crypto figures include Wall Street legends Charlie Munger and Warren Buffet, the latter standing out as perhaps Bitcoin’s greatest antagonist.
By. Jenson Nuñez
