Why is Bill Gate against investing into bitcoin?

[Mary Ofosuhene]

I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

[mk4]

Most rich people like Bill Gates and Warren Buffet are against investing in bitcoin or cryptocurrencies in general because of the huge risks due to heavy volatility. I'm very bullish on bitcoin and cryptocurrencies, but it's indeed a huge gamble. "Moon" and "lambo" gains aren't guaranteed. We're just pretty much speculating and hoping that it would indeed rise to very high prices.

[viyumztf]

Bill Gate may not understand the real block chaining technology. Their knowledge of bitcoin is only in some social media propaganda. It is understandable that people who have large fortune usually hate risk.

[lekleklek]

People like Gates also have so much skin in the game with Fiat that its a big leap for them to get on board with BTC.

[asdep]

Bill Gates said that is not without reason, there is a good reason too.

In an interview, Bill Gates said that the anonymous nature of blockchain technology as a basis of cryptocurrency could have a very bad impact.

"The main feature of cryptocurrency is its anonymity, which I think is not a good thing because it can provoke more crime, terrorism, and tax breakers," he said.

In addition, the utilization can also give a very horrible effect for users, one of which is losing his own life.

"Currently, cryptocurrency is used to buy fentanyl (a type of pain relievers) and other drugs, so it can be said this technology can cause death indirectly," he said.

[Muktar]

who must be bill gates is a bitcoin haters, he even said that bitcoin can kill people, indeed he is a billionaire but should not say like that

[Hellobx]

Most of the time, these people don't like bitcoin because it's unstable.
However, bitcoin and blockchain are inseparable, which is the most important point.

[lizardbtc]

I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

Because the guy already have money and doesn't need it much. Even if he thinks this whole scene will fly off in the future he goes to the safer route. Once you have big amount of money you would not care about a cahnce to get 10x on your money in the risky way, but you slowly lean towards safer methods which have proven to work over time and which will generate you money in the long run. In life money is not everything and since Bill is in that point in life where he has more than he can posibly spend why invest into bitcoin for money as he doesn't need it? I think that if we ever see mass adoption of crypto Bill will gladly use it but until then better not tuch this space.

[mk4]

Bill Gates said that is not without reason, there is a good reason too.

In an interview, Bill Gates said that the anonymous nature of blockchain technology as a basis of cryptocurrency could have a very bad impact.

"The main feature of cryptocurrency is its anonymity, which I think is not a good thing because it can provoke more crime, terrorism, and tax breakers," he said.

In addition, the utilization can also give a very horrible effect for users, one of which is losing his own life.

"Currently, cryptocurrency is used to buy fentanyl (a type of pain relievers) and other drugs, so it can be said this technology can cause death indirectly," he said.

Bill Gates as a HUGE technological innovator, that's a very ignorant thing to say though. He sure does well know every single technical advancement has it's own disadvantages and sort of "loopholes"(for a lack of a better word) that could be used in a negative manner (e.g. computer/www for stealing money, identities, etc).

And I think people who buy drugs and other illegal stuff uses Monero anyway.

[karashika0577]

Fearing is the mother of invention, this rule also shows that those who have a great fortune are afraid to take risk. This can also be a reason. Or other reasons such as instability, the risk of losing time, the possibility of getting less profit, or the fear of losing due to already possessing wealth.

[Tankdestroyer]

Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

He is not interested in bitcoin because according to him, it lacks actual value. Somehow, I understand him because it is mainly used as a speculative thing right now, and not as a currency.  Nevertheless, I think bill gates will soon get interested in it if btc becomes widely used to buy goods and services. Here is another relevant article that might help you know more about his reasons as to why bill gates is against in investing into bitcoin.

[reverseflash]

Perhaps process of search of new opportunities of earnings is not interesting to Bill Gates any more and he are content with what is?

[collision00]

Most rich individuals like Bill Gates and Warren Buffet are against putting resources into bitcoin or cryptographic forms of money as a rule as a result of the immense dangers because of substantial instability. I'm extremely bullish on bitcoin and digital currencies, yet it's without a doubt an enormous bet. "Moon" and "lambo" picks up aren't ensured. We're simply practically theorizing and trusting that it would in fact ascend to high costs.

[charlotte04]

I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

Because somehow he sees the disadvantage of using Bitcoin but for him blockchain is a good idea and would work for the future.

[catchandeat]

Most rich people like Bill Gates and Warren Buffet are against investing in bitcoin or cryptocurrencies in general because of the huge risks due to heavy volatility. I'm very bullish on bitcoin and cryptocurrencies, but it's indeed a huge gamble. "Moon" and "lambo" gains aren't guaranteed. We're just pretty much speculating and hoping that it would indeed rise to very high prices.

Took a words out of my mouth. It's always a really high risks when you're messing with cryptocurrency but also a high profit if you win that roulette.

[CurrenCyTRR]

because it's quite unreal

[Ankhesenamun]

I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

A lot of problems now also in bitcoin, many actors who confront him, but this coin is still trying to fight for their survival and the continued growth of prices on the cryptocurrency market.

[bman01]

Well, I actually don’t know about this. If it is true. Then I think he should believe in Bitcoin. Anyway, many men many minds. It is his own choice.

[jademacoy]

Well there are many ways to isolate oneself in joining cryptocurrency as to adhere ones security especially that Bill Gate is one of the richest man in the whole world. So we do not know that Bill Gate does invested in cryptocurrency and just deny it to everybody for the security and to keep some of the investors on their accusations against big whales who are manipulating bitcoin market price. This could only be a fraud to keep and support bitcoin indirectly as what it is today.

[ulakudrakova]

I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

Don't believe what the media is saying. It can say anything but actually has 1 million BTC. As quietly went and earns big money.