Bill Gates: I would put against bitcoin

[ShadowBits]

American businessman Bill Gates again spoke out against the first crypto currency: in the Squawk Box program on CNBC, the co-founder of Microsoft called bitcoin one of the most speculative things in the world. This slightly tilted the course of the coin on Monday, May 7, but today it is still in the green zone.

"I would oppose bitcoin if there was an easy way to do this," said Bill Gates, co-founder of Microsoft Corporation in CNBC's Squawk Box, on Monday, May 7.

    "As an asset class, you do not produce anything, and so you should not expect it to rise, it's a kind of pure investment" stupid theory, "Gates said in the CNBC program" Squawk Box. "

     "Bitcoin and ICO, I believe, I believe, these are some of the crazy, speculative things," Gates said. He added that someone once gave him bitcoins for his birthday, but he sold it in a few years.

According to Gates, there is no need to count on the growth of bitcoin's value: "from the point of view of the asset class, you do not produce anything." The largest shareholder of Microsoft considers investing in this cryptonet "the theory of a bigger fool in its pure form."

She claims that money can be made by acquiring securities without regard for their quality and selling them at a profit, because there will always be a "bigger fool." Proceeding from the theory, speculative bubbles grow in this way, which burst with time and bring down the value of shares in a mass sale.

Note that earlier Gates accused the BTC of the death of people, pointing out that the coin is often used to buy drugs. In November 2014, the businessman called bitcoin "a revolutionary technology and the most innovative solution in the modern Internet payment market."

Like many critics of crypto currency, Gates acknowledged that the basic technology of blockchain has its advantages. Blocking eliminates the need for a third-party intermediary, such as a bank, to quickly create a secure, permanent report on the transaction between the two parties. Bitcoin is the first application of blocking technology, and companies are exploring ways to use technology to manage supply chains, trade and other areas.

If he says that then maybe some banks offered him a huge amount of money to say that. Since he is old enough to care about the technology behind it.

[CottonGuy]

American businessman Bill Gates again spoke out against the first crypto currency: in the Squawk Box program on CNBC, the co-founder of Microsoft called bitcoin one of the most speculative things in the world. This slightly tilted the course of the coin on Monday, May 7, but today it is still in the green zone.

"I would oppose bitcoin if there was an easy way to do this," said Bill Gates, co-founder of Microsoft Corporation in CNBC's Squawk Box, on Monday, May 7.

    "As an asset class, you do not produce anything, and so you should not expect it to rise, it's a kind of pure investment" stupid theory, "Gates said in the CNBC program" Squawk Box. "

     "Bitcoin and ICO, I believe, I believe, these are some of the crazy, speculative things," Gates said. He added that someone once gave him bitcoins for his birthday, but he sold it in a few years.

According to Gates, there is no need to count on the growth of bitcoin's value: "from the point of view of the asset class, you do not produce anything." The largest shareholder of Microsoft considers investing in this cryptonet "the theory of a bigger fool in its pure form."

She claims that money can be made by acquiring securities without regard for their quality and selling them at a profit, because there will always be a "bigger fool." Proceeding from the theory, speculative bubbles grow in this way, which burst with time and bring down the value of shares in a mass sale.

Note that earlier Gates accused the BTC of the death of people, pointing out that the coin is often used to buy drugs. In November 2014, the businessman called bitcoin "a revolutionary technology and the most innovative solution in the modern Internet payment market."

Like many critics of crypto currency, Gates acknowledged that the basic technology of blockchain has its advantages. Blocking eliminates the need for a third-party intermediary, such as a bank, to quickly create a secure, permanent report on the transaction between the two parties. Bitcoin is the first application of blocking technology, and companies are exploring ways to use technology to manage supply chains, trade and other areas.

He wants to attain something great thinking he can manipulate crypto price specillay bitcoin. He's just so pissed with bitcoin because there are lots of richer people than him now because of btc.

[jahn_quid]

He wants to attain something great thinking he can manipulate crypto price specillay bitcoin. He's just so pissed with bitcoin because there are lots of richer people than him now because of btc.

Let's be real, no one is yet richer than Bill Gates just by investing in crypto.

I get that we're all enthusiasts here, but sometimes the hyperbole is a bit too much for me.

Maybe he's just showing solidarity with his friend Warren B. After all, the article even states he's traded (more specifically sold BTC in the past).

In any case, even if BG really does doubt BTC, who cares. All that's important is that WE continue to believe in it! 

[yvuj101]

I think he's confused with his statement

Bill Gates is a great business man I think he expressed his jealousy in bitcoin. Many people using computers but low in profits while Bitcoin install in the computer has gathered earned multiple profits.

[ram64GB]

Hmmmm. Why can't he just help Microsoft be back to it's glory days against Apple and Google. The dominance of a smartphone is growing year by year yet Microsoft killed its beautifully own Windows Mobile. There's even a smartphone built for cryptocurency and now I see no sense why he is against it. He should've support it instead.

[KR$N]

Maybe these quotes are taken out of context? He could be answering some very direct questions, you know. Microsoft was even accepting BTC not long ago, what's with that swing?

[soraxas01]

I think bill gates might have a mixed opinion on what bitcoin is. bitcoin may be a valuable asset in the future because of his company and he does not rely much on the money he gets from it because he is already rich but he is concerned on the asset on the effect of bitcoin as an investment in his company and future economic changes.

[Coinson92]

It would be better if Bill Gates did his direct duties in Microsoft!

[Ailmand]

American businessman Bill Gates again spoke out against the first crypto currency: in the Squawk Box program on CNBC, the co-founder of Microsoft called bitcoin one of the most speculative things in the world. This slightly tilted the course of the coin on Monday, May 7, but today it is still in the green zone.

"I would oppose bitcoin if there was an easy way to do this," said Bill Gates, co-founder of Microsoft Corporation in CNBC's Squawk Box, on Monday, May 7.

    "As an asset class, you do not produce anything, and so you should not expect it to rise, it's a kind of pure investment" stupid theory, "Gates said in the CNBC program" Squawk Box. "

     "Bitcoin and ICO, I believe, I believe, these are some of the crazy, speculative things," Gates said. He added that someone once gave him bitcoins for his birthday, but he sold it in a few years.

According to Gates, there is no need to count on the growth of bitcoin's value: "from the point of view of the asset class, you do not produce anything." The largest shareholder of Microsoft considers investing in this cryptonet "the theory of a bigger fool in its pure form."

She claims that money can be made by acquiring securities without regard for their quality and selling them at a profit, because there will always be a "bigger fool." Proceeding from the theory, speculative bubbles grow in this way, which burst with time and bring down the value of shares in a mass sale.

Note that earlier Gates accused the BTC of the death of people, pointing out that the coin is often used to buy drugs. In November 2014, the businessman called bitcoin "a revolutionary technology and the most innovative solution in the modern Internet payment market."

Like many critics of crypto currency, Gates acknowledged that the basic technology of blockchain has its advantages. Blocking eliminates the need for a third-party intermediary, such as a bank, to quickly create a secure, permanent report on the transaction between the two parties. Bitcoin is the first application of blocking technology, and companies are exploring ways to use technology to manage supply chains, trade and other areas.

He has been positive about bitcoin, then negative, then positive again, now he is negative again. What's this guy's deal?
I mean he can't be in it for the money, so why fud?

I think if you would look at the bigger picture. He is just speaking his mind depending on the current status of Bitcoin. However, one thing is clear here. He is updated with what's happening in the market and the movements that happen to it. Therefore, that attention may be said to be a good indication that he can actually effect something in the future that could lead to better days for this market.

[nightxglow]

Lol i don't understand? I think before he said good things about bitcoin? Or is it just my imagination?
Not gonna blame him though if he think that bitcoin is just an investment that gain profit after fooling people. Well, he's rich. Surely he won't need investment like bitcoin in his life.
But it makes me wonder. When someone give him bitcoin as birthday gift, why didn't he sell it right away? Since he knew it's worthless and bad and such? Why need to wait for years later to sell? Could it be he's waiting for the price to increase then sell it? lol. He said bitcoin is not an asset, but he kept his birthday coin for years before sell it. Well i can't judge, and i won't. It's free for people to express their opinions, but it won't change my way to see bitcoin and cryptocurrency.

[KuyaBreezy]

Everyone has their own opinions I on certain matters the only difference is that influential people tend to be heard more often than not and some of them use their inflences in a worrying mannar, you don't have to take Bills word, especially when had had earlier shown some support, research instead and decide on what's best

[zolfa]

I never understood how he understands blockchain, I admit that he is a very rich man, has a big company (microsoft), and successful.

and I also never know what the reason he made a bad statement about bitcoin.

but I am a new member who has known bitcoin for 2 years, but within 2 years, I always read and continue to analyze about bitcoin growth.

so, I think if the world of crypto or bitcoin is a system with a ponzi model, a scam, or about price manipulation. then bitcoin will die quickly. bitcoin will not gain the trust of many investors.

[ICOBountyPrograms]

Bill Gates needs to put his money where his mouth is.

[D4ffyduck]

When people like him, saying that this thing has a certain impact but still we often give for things like that too much attention. For me, no positive comments made by prominent people can be a form of promotion for bitcoin in the future.

[TrufieldICO]

Rich powerful people only want to keep things the same, because what else is he going to do with all his billions in fiat currency is we all go digital. Self preservation is the reason they come up with all these negative news

[ladydark]

Every person has his own point of view and this is gate's view regarding bitcoin.More than this,we should not give any importance to this subject.

[dimastegar]

When Bill Gates sees an opportunity, we can imitate it.

But if Bill Gates said it is an easy way to earn money, I do not think it's that easy.

[chriskins]

The truth is that the control of money is gradually leaving the hands of the millionaires and Govt assistance, industrial like banks, and insurance company. So they fear for crypto being what will finally break the camels back for freedom

[sukatuku]

Bill Gates: Bitcoins and ICOs are crazy, unpredictable, and speculative.
    Bitcoin and other purely electronic money are just "more stupid" about investing, Microsoft co-founder Bill Gates said on Monday on CNBC's "Squawk Box". "I agree that I would eliminate it if there was an easy way to do it," he said.
   Gates added that someone had given him a bitcoin to celebrate his birthday, but he sold them a few years later.
   Microsoft co-founder Bill Gates said on Monday he would bet against bitcoin if possible.
  The price of a bitcoin quickly increased $ 2,000 last year to above $ 19,000 in mid-December. The digital currency has since lost more than half of its value and traded at about $ 9,300 on Monday morning. About $ 9.8 billion has been raised through the sale of new coin, or ICO, since 2016, according to Autonomous Next Financial Research.
  "Bitcoin and the ICO, I fully believe [they are one of the] crazy, unpredictable, and speculative things," Gates said. He adds that someone once gave him a few happy birthday bitscoin, but he sold them a few years later.
  Like many analysts and critics of the rise in the price of electronic money, Gates has said that the basic blockchain technology still has its value.
  Blockchain eliminates the need for a third party intermediary, such as a bank, by quickly creating a secure and permanent record of a transaction between two parties. Bitcoin is the first application of blockchain technology, and companies are seeking to apply blockchain to supply chain management, business and other areas.

[Crypto_Spike_Factor]

With Bill Gates giving a pure confidence in the need of blockchain and highlighting the lure of companies to utilize it as the core technology in developing businesses. I have nothing but gratitude. Maybe hes one of the whales in the oceans of trust able digital assets. Nobody knows  .