Main navigation

Bill Gates Says Bitcoin Is Only for Billionaires Like Elon Musk

Tue, 02/23/2021 - 06:42
article image
Alex Dovbnya
Bitcoin is too speculative and anonymous for Bill Gates's liking
Bill Gates Says Bitcoin Is Only for Billionaires Like Elon Musk
Cover image via
Read U.TODAY on
Google News

According to Microsoft co-founder Bill Gates, you shouldn’t touch Bitcoin if you are not as rich and “sophisticated” as Tesla CEO Elon Musk:         

The fourth-richest person in the world took this elitist stance during his interview with Bloomberg:     

Elon has tons of money, and he’s very sophisticated. I don’t worry that his Bitcoin will sort of randomly go up or down[...] My general thought would be...if you have less money than Elon, you should probably watch out.    

Gates is worried about people with not too much money to spare “getting bought into these manias.”

Bitcoin Tanks to $47K as Janet Yellen Calls It "Extremely Inefficient"

It’s good if it’s traceable

As reported by U.Today, the billionaire philanthropist recently mentioned that he was “neutral” on Bitcoin after claiming that he would short in the past. In his most recent interview, Gates explains that he’s not bullish on Bitcoin because it requires too much energy and promotes anonymous irreversible transactions:

Yet, he claims that digital money is a good thing if it can be traced:

The Gates Foundation does a lot in terms of digital currency, but those are things were you can see who’s making transactions. So, digital money is a good thing.

Gates expects digital money to get even to the poorest countries.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at