Why Microsoft Founder Bill Gates Did Not Invest In Bitcoin
-Microsoft founder, Bill Gates has not invested in booming cryptocurrency, Bitcoin
-The billionaire revealed this while speaking in a live chat on social network, Clubhouse
-Gates stated that he prefers to invest in companies that make products
Bill Gates, the founder of tech company Microsoft has revealed why he did not invest in Bitcoin.
While being interviewed on Clubhouse by Andrew Sorkin, Gates told the host that he preferred to invest in companies that make products.
Gates added that he did not determine his investments on whether they will be worth more to others.
While in an earlier interview with Bloomberg, he was asked questions about Elon Musk’s enthusiasm for crypto.
In other news: The largest crypto exchange in Southeast Asia, PDAX experienced a technical failure that caused Bitcoin to trade at $6000
The billionaire’s response was “do not invest in Bitcoin if you have less money than Musk”.
This is not the first time that Gates has expressed skepticism about Bitcoin. In an interview in 2018, he told CNBC that he would short the coin if he could.
Short-selling refers to the act of borrowing something, selling them, then buying when the price is lower before repaying the borrower.
Also, US Treasury Secretary, Janet Yellen said Bitcoin is not an efficient way of conducting transactions.
At the time of this report, BTC is trading at $44,612, down by 11.6% in the last 24 hours.
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