February 19, 2021

Bill Gates has changed his attitude towards Bitcoin

Bill Gates has changed his attitude towards Bitcoin

While speaking with CNBC today, Gates answered some questions including, what he thinks about the "huge costs" of electricity for mining cryptocurrency.

“I don’t have bitcoin, I don’t hold a short position on bitcoin. I take a neutral point of view,” said Gates.

He also said that the Bill & Melinda Gates Foundation is working on digital transfers and reducing their value in developing countries. However, he noted that such transactions can be reversed and completely transparent.

“This has nothing to do with tax evasion and other illegal activities,” he explained.

Talking about his expectations from the cryptocurrency market, the Microsoft founder added:

“Bitcoin can go up and down simply because of mania or because of looks. I don't know how to predict what the development will be in this direction."

In a very different way, Gates spoke about Bitcoin in mid-2018.

“This type of investment is the purest embodiment of the big fool theory. I would shortcut it if there was an easy way. I am convinced that Bitcoin and ICOs are some of the craziest, most speculative things,” he said when the cryptocurrency rolled back from its previous all-time high and cost less than $10 000.

Billionaire and DoubleLine Capital founder Jeffrey Gundlach, who has earned fame as an avid gold investor, meanwhile, tweeted the following:

“Bitcoin can be a stimulating asset. It doesn't look like they had gold."

In January, after rising above $ 20,000, Gundlach said that Bitcoin was "in bubble territory."

“At this point I don't like Bitcoin. I don't like things that grow with so much volatility. I am not an adversary, but there are times when people get so confused in one part of the boat that I lose faith in its ability to successfully float on the water, ”he said.

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