Alonside warren buffet and charles munger, Bill Gate has joined in the criticism of bitcoin
The second wealthiest person in the world is not convinced by the concept of bitcoin,
He seems it does not produce anything.
Bill gate was quoted saying”in an investement where you re not producing anything, how do you expect it to go up. Such theory is a ‘greater fool theory investment’.
he added that he would short it if there was an easy way to do it.
Biill gate didn’t stop there as he also describe initial coin offering(ICOs), as a crazy speculative thing.
Gate stated that he got some bitcoin for his birthday, but sold them out few years later.
According to research from coinschedule over $6.8 billion has been realized through ICOs since january, and telegram account for 25% of it.
with this point , bill gate is now the third rich personality to criticize Bitcoin on Monday,
after legendary investors Warren Buffett and Charles Munger express their concerns over the cryptocurrency,
saying the crypto popularity was a combination of “dementia and immorality”.
Bill gates maintain the richest person on planet for many years, he currently worth about $90 billion, he is now second to Jeff Bezos Amazon founder, whose fortune forbes estimates at $112 billion.