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1 year ago
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Bill Gates on Bitcoiners: “You’re not producing anything”

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Microsoft co-founder Bill Gates said Monday he would bet against bitcoin if he could. He should focus on software that doesn’t crash.

“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.

1 year ago
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