Bill Gates took a break from pushing for vaccines to providing his opinion on bitcoin. Gates says that people who aren’t as rich as Elon Musk should not be investing in it.
Bill Gates took a break from pushing for the entire world to take the COVID vaccine to warn people about investing in Bitcoin. According to MSN Money:
Bill Gates, the world’s third-richest person, is not a fan of bitcoin, partly for environmental reasons.
According to the billionaire, not only does bitcoin use a lot of energy, it can also cause trouble for investors who may not have much money to spare, given how volatile its price is.
“Elon has tons of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down,” Gates told Bloomberg in an interview. “I do think people get bought into these manias, who may not have as much money to spare, so I’m not bullish on Bitcoin, and my general thought would be that, if you have less money than Elon, you should probably watch out.”
Only a few days ago, Janice Yellen shared her concerns about bitcoin. In an interview in front of the US Senate, Yellon shared:
Cryptocurrencies are “a particular concern” when it comes to terrorist financing, potential Treasury Secretary Janet Yellen said Tuesday.
Speaking at a Senate Finance Committee hearing on her anticipated nomination after President-elect Joe Biden takes office tomorrow, Yellen said the U.S. should be aware of emerging tools for terrorist financing.
“The technologies to accomplish this change over time and we need to make sure that our methods for dealing with these matters, with tech terrorist financing, change along with changing technology, cryptocurrencies are a particular concern,” she said in response to a question by Sen. Maggie Hassan (D-N.H.), who called crypto use in terrorist financing a “growing concern.”
Bitcoin is currently down from its high last week of 58,367 to 46,952 this afternoon.