“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’s “Squawk Box.”
- Bitcoin and other cryptocurrencies are “kind of a pure ‘greater fool theory’ type of investment,” Microsoft co-founder Bill Gates said Monday on CNBC’s “Squawk Box.”
- “I agree I would short it if there was an easy way to do it,” he said.
- Gates added someone once gave him some bitcoin for his birthday, but he sold it a few years afterward.
Bitcoin will become as valuable as gold, just as soon as the billionaires figure out how to corner the market on it.