Microsoft co-founder and fourth-richest person in the world Bill Gates says he isn’t a cryptocurrency investor because it isn’t “adding to society.”
On Thursday, Gates did a Reddit Ask Me Anythingin which a user asked his thoughts on Bitcoin and cryptocurrencies.
“I don’t own any,” Gates wrote. “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.”
“I do think people get bought into these manias, who may not have as much money to spare, so I’m not bullish on Bitcoin, and my general thought would be that, if you have less money than Elon, you should probably watch out,” Gates told Bloomberg in 2021.