Bill Gates, an American billionaire and founder of Microsoft, said he has no digital currency because he prefers to invest his money “in things that lead to valuable output.”
The British newspaper The Independent reported on Sunday, May 22, 2022, that Gates made statements about digital currencies during the “Ask me anything” event organized on the famous Reddit site.
Gates is the fourth richest man in the world with a fortune of about $ 116 billion.
“In the case of cryptocurrencies, they derive their value only from the personal decision that he or she should pay them this or that amount, and then, unlike other investments, they do not add any value to society,” he added.
Gates’ remarks come at a time when digital currencies have lost about $ 1 trillion in value in 2022 and lost about $ 200 billion in the first 24 hours of this month alone.
Bitcoin, the most prominent digital currency, peaked when it hit more than $ 68,000 in November 2021, but fell sharply to about $ 29,300 on Saturday, May 21, 2022.
Warren Buffett, CEO of Berkshire Hathaway Investment Company, said Gates is not the only billionaire to avoid investing in digital currencies.
“It does not matter to me whether the value of digital currencies increases or decreases next year, or after 5 or 10 years, the only thing I trust is that these currencies do not produce anything, they are magical and people always do,” Buffett said. “They attribute a lot to magic.”
Source: Lebanon Debate
