The statements of Bill Gates regularly react to Internet users. There is no doubt that his last release on May 19 on Reddit will not please everyone. Speaking about cryptocurrencies, the co-founder of Microsoft did not go with dead hands.
He explains : ” I like to invest in things that have value. The value of companies is based on how well they make great products. The value of crypto is just based on what one person decides how much another person will pay for it ».
European Union Prepares Strict Crypto Regulation
This is not the first time that Bill Gates has expressed his reluctance towards cryptos. As our colleagues from Capitalhe had already addressed last February in Bloombergthe risks of this type of investment by stating that “ If you have less money than Elon Musk, you should probably be careful “. The recent evolution of prices, with a fall in Bitcoin and Ethereum, gives him reason for the moment.
Finally, a last criticism of Bill Gates concerning cryptocurrencies comes from the fact that they generate a negative impact on the environment. He thus modestly specified in March 2021 that “ bitcoin is bad for the climate ».
Note that Bill Gates is not the only one to criticize cryptocurrencies so strongly. Christine Lagarde, former French minister and current president of the ECB, uses rather harsh words. She just said: I have always said that cryptocurrencies are highly speculative and very risky assets. My very humble assessment is that it is worth nothing, it is not based on anything, she specifies. There are no underlying assets to act as a security anchor ».
The European Union is working on two draft directives that will strictly regulate the cryptocurrency sector. You can find all the details on this subject in our dedicated article.