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For Bill Gates, crypto doesn’t produce a ‘valuable output’

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Bill Gates, the former world’s richest man and the person behind tech giant Microsoft confirmed that he doesn’t have any wealth in cryptocurrencies, although he likes investing in tech. As per Gates, cryptocurrencies are not a worthy investment because they do not produce any “valuable output.”

Bill Gates and crypto are not meant to be together?

In an interactive session and Ask Me Anything hosted by one of the richest people in the world, Bill Gates answered some interesting questions that the Reddit community asked him. One of the questions asked by the community centered around the fact if the founder of Microsoft owned Bitcoin or any other cryptocurrency. 

“I don’t own any. I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it, so not adding to society like other investments,” said Bill Gates.

As per a previous report from Cryptonary, Bill Gates has shown a neutral stance on cryptocurrencies and Bitcoin. “I don’t own Bitcoin. I am not short bitcoin … so I have taken a neutral view,” the billionaire said at that time. He also added that these blockchain-based assets would emerge as the main form of payment method around the world.

Warren Buffett slamming crypto

While Bill Gates maintains a neutral view on cryptocurrencies, American business magnate, investor, philanthropist, and Berkshire Hathaway CEO Warren Buffett also issued a similar statement on cryptocurrencies. According to Buffett, crypto “doesn’t produce anything,” and even if he was offered Bitcoin at a low price of $25, he wouldn’t buy it because it lacks any use case in the real world. Buffett’s right-hand man Charlie Munger has also compared Bitcoin with poison and appreciated China’s crackdown on the crypto space.

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  • Source: https://www.cryptonary.com/for-bill-gates-crypto-doesnt-produce-a-valuable-output/

This Post was originally published on Cryptonary

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