Microsoft co-founder Bill Gates revealed his thoughts on Bitcoin (BTC) in an interview with CNBC’s Andrew Ross Sorkin. Gates changed his thinking about Bitcoin to neutral.
Gates, the fourth richest name in the world, says he still does not own Bitcoin.
“I don’t own Bitcoin… I have a neutral view.”
Gates recognizes the importance of digitizing money and reducing the cost of transactions:
“I think moving money into a more digital form and lowering transaction costs is something the Gates Foundation is doing in developing countries.”
Made in Harsh Criticism
Gates made harsh criticism of the leading cryptocurrency in May 2018:
“As an asset class you are not producing anything and therefore you should not expect it to rise. This is a “big fool theory” type of investment. “
Although Bitcoin has increased almost 500 percent since this comment, the Microsoft co-founder believes the rally was mainly due to “madness” and refuses to predict its future price:
“Bitcoin can go up and down based on a frenzy or that kind of thing. There is no way to predict how this will progress.