In an interview conducted by CNBC, Microsoft co-founder Bill Gates itemized a statement that can principally impact the way bitcoin is viewed across the globe. Bill Gates essentially stated that he is “neutral” about Bitcoin. Although, he acknowledged the role of cryptocurrency in escorting down the costs of transactions and shifting money into a digitalized form. Nevertheless, it was affirmed that Bill Gates and companies associated with him do not own and purchase bitcoins.
Talks related to Bill Gate’s stance on cryptocurrency emerged subsequent to Elon Musk’s vehicle giant, Tesla’s, purchase of $1.5 billion worth of bitcoins. Following this, a narrative penetrating towards other Fortune 500 companies following a similar path emerged across the market. Bill Gate’s Microsoft company also falls under the category of Fortune 500; as a result, the market was eagerly waiting for Bill Gate’s position on this matter.
However, Bill Gate’s neutral response leaves little room for aspirations regarding Microsoft’s purchase of Bitcoins and integrating itself into cryptocurrency. In fact, according to Microsoft’s co-founder, there is no way of appropriately predicting how the bitcoin will develop and progress over a period of time.
Since it can go up, down and vice versa, merely on the grounds of manias and the generally prevailing view of cryptocurrency, such factors make bitcoin an unreliable form of currency for billionaires to invest in, which include Bill Gates and other co-founders of the companies he develops and runs. In addition to this, Microsoft’s executive and president, Brad Smith, reaffirmed Bill Gates’s stance and highlighted how emergent policies in association with Microsoft’s involvement with cryptocurrency are not being undertaken and processed.
This stance can essentially alter the way companies across the globe view bitcoin and cryptocurrency. At first, several businesses were succeeding the route that Elon Musk’s company, Tesla, took and were allocating their capital and assets towards bitcoin. This was also because, with cryptocurrency, companies could protect themselves against deception and corruption arising from the banking system.
It is claimed that central banks across the globe are eating the banking system via fraud and corruption-related activities. Nevertheless, the statement on Bill Gate’s views on this matter has generated the concept that bitcoin is unpredictable and can go up and down at any point in time. As a result, companies may be reluctant to purchase bitcoins, proving how Bill Gates has altered the way bitcoin is perceived through a single statement.