Bill Gates Warns Investors Against Bitcoin
While Elon Musk is actively investing in digital gold, another billionaire and a significant figure in the digital industry, Bill Gates, calls for cautious work with the first cryptocurrency. In a recent statement, the Microsoft founder said he sees many risks in Bitcoin. Which we will talk about in this article. Next, we’ll share what Gates thinks about digital gold and how his claims are reflected in the price of the first coin. So let’s get started.
What the billionaire says
First, let’s outline the context in which the conversation took place. Bill Gates commented that, in his opinion, Bitcoin is not a currency for everyone. As he himself stated, those who do not have as much free funds as Elon Musk should be careful. His attitude towards Bitcoin is rather pessimistic; Gates does not see any serious prospects in digital gold. In his opinion, the currency has several key problems that turn many users away from the Blockchain. In particular, we are talking about the irreversibility of transfers. Recall that all transactions made within the Blockchain are final. It is impossible to correct or cancel the translation, since all blocks are inextricably linked with each other.
The billionaire also expressed doubts about the reliability of the payment system. Gates notes that cryptocurrencies need to become transparent. So that transfers can be easily tracked, and anonymity does not lead to an increase in crime. It is not entirely clear what exactly Bill Gates meant, as every transfer in Bitcoin can be tracked. Most likely, the thought concerned more private coins than BTC. However, Gates did not speak about other digital currencies. But his general attitude towards the crypto industry is understandable. It is noteworthy that after the announcement was made, the value of the first coin dropped significantly.
How stance from Bill Gates affects the first coin
At the time of this writing, Bitcoin is worth $ 48,000. Recall that earlier we saw a price tag 2% higher than the current one. Many attribute the fall in value to the credibility of Bill Gates. Still, his reputation in the investor and tech community is undeniable. Many people trust his every word and look for hidden meanings in statements. However, this time Gates said bluntly that most investors should be wary of a fall in value. Paradoxically, the decline began precisely after the announcement. However, is it worth taking Bill Gates’ words too seriously? Of course no. We also do not recommend blindly following the actions of Elon Musk and other figures in the digital space. Still, you should think for yourself, using the opinions of well-known financiers only as a support.
But not the last argument in favor of certain actions. Take a holistic approach. Analyze value, refer to charts and apply technical analysis. Only such a thorough approach will allow you to regularly earn money on Bitcoin and many other digital coins.
By the way, about Elon Musk. The billionaire recently stated that the latest investment in Bitcoin is still a risk. And the decision was taken collectively, it was not his initiative. Tesla decided that it is better to distribute part of the profit to cryptocurrency, while fully understanding the possible risks. As we can see, even such a popular person in the cryptoindustry as Elon Musk cannot deny the obvious – the likelihood of a sharp drop in prices.
In order to work calmly in the crypto industry, it is extremely important to stay in the trend of the latest developments. Follow all the news of the world of Blockchain and high technologies with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!