Bill Gates criticizes bitcoin buyers
The roller coaster of bitcóin it keeps causing a welt among billionaires. Now, after knowing the rebound of Jeff Bezos, to once again be the richest man in the world, after surpassing Elon Musk, the founder of Microsoft, Bill Gates, believes that anyone with less money than the two mentioned should “be careful” when it comes to bitcoin.
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The warning is given to potential buyers of that cryptocurrency who want to follow the investment strategy of Musk, the owner of Tesla. In an interview with Bloomberg, the economics news agency, Gates suggested that Musk has access to sophisticated business management techniques that the average investor is unaware of.
But it went further. Regarding the ripple of bitcoin, after falling in price in reaction to a simple trill, referring to Musk’s posts on social media, Gates indicated that Elon was probably insulated from such market downturns.
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Elon has tons of money and he’s very sophisticated so, you know, I’m not worried about his bitcoin going up or down randomly.
“Elon has tons of money and he’s very sophisticated so, you know, I’m not worried about his bitcoin going up or down randomly.”Gates pointed out.
On February 23, just over two weeks after Tesla’s $ 1.5 billion acquisition of bitcoin was announced, the price of the cryptocurrency fell 20%: from $ 58,258 to $ 46,624. At the same time, almost $ 400,000 million of the global cryptocurrency market capitalization disappeared.
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The crash came a few hours after Musk himself voiced his opinion that current bitcoin and ether (ETH) prices were “high.”
Gates explained that it would be a mistake for the average investor to follow the mania for optimism that surrounds Musk’s market movements, advising non-billionaires to “be careful”.
“I think people get carried away by these manias, who may not have so much money to spare. So I’m not bullish on bitcoin, and my general thinking would be: if you have less money than Elon, you should probably be careful. “
For her part, the United States Secretary of the Treasury, Janet Yellen, has also raised doubts about cryptocurrencies, and their environmental impact, given the amount of energy used in mining digital tokens.
“It is an extremely inefficient way of conducting transactions and the amount of energy that goes into processing those transactions is staggering,” Yellen told the New York Times on Monday.
These critical voices were joined by the economist Nouriel Roubini, which anticipated the last global financial crisis.
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“The reality is that nobody knows what the value of this pseudo-asset is. It has no value because it has no income, it has no use, it has no use. So it’s a total speculative game in a self-fulfilling bubble, ”Roubini warned.