Bitcoin Skeptic Bill Gates Warns: 'Watch Out if You Have Less Money Than Elon
Feb 9, 2024
Microsoft co-founder Bill Gates recently voiced his scepticism about Bitcoin, cautioning against its volatile nature, particularly citing Tesla CEO Elon Musk's influence on cryptocurrency prices through social media. Gates highlighted the risks associated with Bitcoin's fluctuations, especially for those with limited financial resources, stating, "If you have less money than Elon, you should probably watch out." Despite acknowledging the potential benefits of digital currencies, Gates emphasised concerns about their decentralised nature and potential for misuse. He underscored the importance of transparency and regulation in cryptocurrency transactions, citing initiatives by the Bill & Melinda Gates Foundation to promote digital currency in facilitating transparent transactions, particularly in aiding poorer countries during the pandemic. Gates's investment strategy, which includes a diverse portfolio spanning technology, finance, and consumer goods sectors, reflects a balanced approach focused on both high-growth potential and stable, essential services, offering a valuable lesson in diversification for individual investors.