Microsoft co-founder Bill Gates said in a “Ask me Anything” exchange on Reddit Thursday that he does not own any digital currencies. Bill Gates, the fourth richest man in the world and legendary founder of Microsoft, held an Ask Me Anything (AMA) on Reddit, proving the truth on Twitter, in which Bill Gates explained he does not have any investments in Bitcoin, as Bitcoin does not add value to society. Bill Gates, has never had the glimmer of insight into the market or the inclination to capitalize on an opportunity, as like Warren Buffett, he has assumed that cryptos are not useful. Bill Gates, the billionaire, says that he has not invested some of his own money into cryptos.
The founder of Microsoft has also said he does not pick investments based on whether or not they are more valuable than others. In response, Bill Gates admitted he does not own any investments in Bitcoin or other cryptocurrency, as doing so does not add anything to society. While other technology billionaires, like Elon Musk and Jack Dorsey of Twitter, have invested heavily in digital currencies over the past few years, Bill Gates has said he doesnat see value in investing in cryptos, and has advised others to stay away from it. Microsoft co-founder Bill Gates recently got into a fight with Elon Musk, after Elon Musk accused Gates of undermining his credibility on the environment by cutting Tesla Inc.
While a number of billionaires, such as Tesla CEO Elon Musk and Michael Sailor from MicroStrategy, have been throwing their weight behind cryptocurrencies, frequently tweeting their support for the virtual currency, Microsoft Founder Bill Gates has been vocal about not believing in the new sectors potential. Despite billionaire Bill Gatess pessimism, a number of well-known investors and entrepreneurs are excited about bitcoin, often touting it as an amazing financial tool. Contrary to Gatess skepticism, many prominent investors and entrepreneurs are excited by BTC and often promote it as an excellent investment instrument. It is also worth noting Bill Miller, who remains bullish on Bitcoin, even though it has recently suffered a crash in the markets.
Gates has warned people against investing in cryptocurrencies before, particularly people who are smaller in capital than Elon Musk. Unlike some other investors, who are turning more and more towards cryptocurrency, it does not appear that Bill Gates is yet to be won over to the digital currency, since he said in a Bloomberg interview in February that he is not a bullish crypto believer. Asked if billionaires should pay more taxes, Mr. Gates said that going too high would likely result in more people finding ways to avoid paying taxes.