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.