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Tuesday, December 6, 2022

Bill Gates is not a fan of cryptocurrencies – for this understandable reason

In a question and answer session on Reddit, Bill Gates explained why he doesn’t invest in cryptocurrencies and why he’s unlikely to do so in the future.

Bill Gates does not own cryptocurrencies, has not invested in them, and is unlikely to do so in the near or distant future. As the Microsoft founder himself clarified in a question and answer session on Reddit, Bill gates is not a fan of cryptocurrencies at all.

While the world saw in Bitcoin and Co. a new investment opportunity that appeared as the future of currencies, with which one could make money and buy and sell goods, and even Elon Musk invested his fortune in them, Bill Gates decided to stick with old-fashioned investments.

Why does Bill Gates not like cryptocurrencies?

Why is that? Bill Gates’ explanation is quite simple: “I like to invest in things that produce valuable things. The value of companies is based on how they make great products. The value of cryptocurrencies is only what someone else is willing to pay for them, so that value does not impact society like other investments.”

That’s understandable because of Gates’ personal penchant for things that positively impact the world and because you can analyze a company like this. You can predict whether the service, the products, the people, and everything that goes with it has a future or not.

A tip from Warren Buffett on cryptocurrencies

One of Warren Buffett‘s top pieces of advice when it comes to investing is knowing where to put your money. Being able to see whether what the companies are producing will be valuable and attractive to mankind makes this investment decision more manageable. Also, when you can see how the company is run and if they have a clear vision of what they want to achieve.

With cryptocurrencies, this is more difficult to recognize. Gates explains that it all depends on what people do with it. Cryptocurrencies are always said to be very volatile – and the recent crash has only confirmed this prediction.

Will Bill Gates change his mind?

Will the day come when Bill Gates changes his mind? It doesn’t look like it, and considering he’s still one of the richest men in the world, even without cryptocurrencies, he doesn’t need to change his mind.

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