Bill Gates explains why there are no cryptocurrencies in his investment portfolio

Microsoft founder Bill Gates said during a AMA-session on Reddit that he does not own cryptocurrency.

“I like to invest in things that have value. The value of companies lies in what they do—produce great products,” Gates explained.

In his view, digital assets do not fall into this category.

“The value of cryptocurrencies depends on what people are willing to pay for them,” the billionaire noted.

Gates added that such assets do not benefit society.

In February 2021, the founder of Microsoft urged potential investors not to follow the example of Tesla, having invested $1.5 billion in bitcoin. In his view, those with less capital than Elon Musk should be more cautious.

Earlier, in March 2021, Gates flagged a climate problem for Bitcoin.

Earlier, former chair of the US Federal Reserve Ben Bernanke doubted the prospects of digital gold as an alternative to fiat. He said Bitcoin is attractive “as a speculative asset”.

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