Bill Gates on Bitcoin: “I’d Short It If I Could”

[Henrikbliss]

Echoing Berkshire Hathaway billionaires Warren Buffet and Charlie Munger’s skepticism about the prospects of bitcoin, world’s second richest man Bill Gates has shared some negative words of his own for cryptocurrency investors.

In an interview with CNBC on Monday, the Microsoft co-founder and Berkshire board member Bill Gates said Bitcoin is “one of the crazier, speculative things” he’s seen.

Read More: https://news.bitzamp.com/bill-gates-on-bitcoin-id-short-it-if-i-could/

[Domithra]

I listened to the news and was surprised the all time richest man was a critic of this innovative idea of bitcoin. Perhaps, he sees Bitcoin to be a great threat and competitor should they allow it to surge through the market. He claims

As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment.

Business is not all about coming out with products, sometimes it renders a service which is necessary to man. Looking at Bitcoin, it offers services which surpasses the old traditional banking system and Bill Gate attested to this fact himself. I think he just contradicted himself by his first statement.