The Co-Founder of Microsoft and technological genius turned philanthropist Bill Gates is, rather surprisingly, not a big fan of Bitcoin and digital assets in general. He essentially believes that cryptocurrency is a ‘billionaire’s game,’ citing Elon Musk and Tesla and their involvement in the digital asset industry as an example.
When asked about his stance during an interview with The Wall Street Journal, Bill Gates offered his take on what technological advancements the world could do without, going out of his way to claim that the way cryptocurrency works would certainly allow for certain fraudulent and criminal activities to occur with minimal difficulty.
It Might Be Useful Provided It’s Traceable
The billionaire also took the liberty of pointing out that despite what it might seem, he actually prefers to stay “neutral” on the topic of cryptocurrency and Bitcoin. In an interview conducted recently, Gates said that he’s not in complete support of Bitcoin simply due to the fact that a lot of energy is needed for it, and it often promotes anonymous as well as irreversible transactions.
For those wondering why Bill Gates may still be hesitant to join in on the cryptocurrency craze, it is mainly because using a platform such as Bitcoin normally requires an abundance of energy, knowledge, and determination. Bill Gates further added that he is not a fan of the anonymous and often irreversible transactions that take place in the world of digital assets and cryptocurrency, citing that this is more hazardous than it is beneficial.
Still, he is of the view that the concept of ‘digital money’ is really good provided that if it could be traced, as it is extremely important you know who is making what transaction and when according to the billionaire.
Bill Gates predicts that the ongoing trend of cryptocurrency and the use of digital assets and money will eventually even make it to the poorest and least developed countries. In fact, a few such countries have already begun making efforts to join in on the craze, and Gates further commented that transitioning the usage of money into a more digitized form, thereby cutting down on transaction costs, is something that his foundation is striving to accomplish as well in the foreseeable future.