Billionaire Bill Gates says in an interview that he completely rejects cryptocurrencies, as they are based on the theory of the greatest fool.
And if you are wondering what this idiot's theory is, we inform you that this is the amazing economic idea that even overpriced assets can make money, as long as you find a bigger idiot to sell them !!.
Bill Gates speaking at an event on Climate Change, organized by TechCrunch, said he prefers to invest in tangible assets, such as farms or factories, or a company that produces products and does not own a single cryptocurrency.
He said he was "suspicious" of assets designed to "avoid taxation or any kind of government regulation".
This is not the first time Gates has expressed skepticism about cryptocurrencies. In an interview in February 2021, said he was concerned about the dangers of Bitcoin, especially when the value of the cryptocurrency was so volatile and could be sunk in a tweet from a prominent investor such as Elon Musk.
And of course Gates' warnings of instability were grounded. When he spoke in 2021, Bitcoin climbed steadily until reached $ 63.000 in April of the same year. It would then plummet dramatically, before rising again to an all-time high of more than $ 64.000 last November.
Since then, the price of Bitcoin has collapsed once again and at the time of writing trades just over $ 20.000.
Read: What if Bitcoin loses its value?
This dramatic fall is part of a wider set of jerky movements that have shaken the world of cryptocurrencies since the collapse of the so-called "stablecoin" Terra in May and continuing failure of the Celsius cryptocurrency lending platform.
Dimitris hates Mondays...
