Bill Gates gives serious Bitcoin warning while Tesla billionaire Elon Musk incites the Crypto prize ‘Mania’

Billionaires from the founder of Microsoft, the global philanthropist Bill Gates, to Eles Musk, CEO of Tesla, weigh bitcoin (even Mark Cuban can not resist it).

After Musk sent the bitcoin price sharply higher with pro-bitcoin tweets, Tesla added $ 1.5 billion worth of bitcoin to its balance sheet, pushing bitcoin even higher.

Now, with top Federal Reserve officials expressing their surprise at bitcoin’s latest bull run, Bill Gates has warned that people with less money than Musk ‘probably need to be careful’.

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“Elon has a lot of money and he’s very sophisticated, so I’m not worried his bitcoin is going up or down randomly,” Gates said. Bloomberg in an interview. “I think people are bought into these manias who may not have that much money. My general thought would be that if you have less money than Elon, you probably need to be careful.”

Gates later said he did not personally invest in bitcoin, and host Andrew Sorkin said he preferred to invest his cash in companies that “make products” and that he did not choose his investments based on whether they were worth would appreciate.

The bitcoin price is known for its extreme volatility, rising to nearly $ 60,000 last week after plummeting to below $ 4,000 in March 2020. interest in digital assets.

Last week, the combined value of the 18.6 million bitcoin tokens in circulation reached $ 1 billion for the first time – double the $ 500 billion it started in 2021 when cryptocurrency mania re-emerged.

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Musk, who briefly overtook Amazon founder Jeff Bezos as the richest person in the world, has long been a proponent of bitcoin and cryptocurrencies – and regularly tweeted about the ‘joke’ bitcoin competitor dogecoin. Some have suggested that Musk’s free tweets may attract the attention of U.S. regulators.

Despite the bitcoin price falling by almost 20% over the past week, many in the bitcoin and cryptocurrency community remain optimistic about its outlook – indicating the specter of inflation as interest in bitcoin due to limited supply.

“With the Fed once again committed to maintaining economic support, and the prospect of a new stimulus package, market concerns about a sudden rise in inflation are increasing,” said Artur Sapek, CEO of Cryptowatch , a trading and charting platform Cryptowatch, said by email.

“Whether inflation really materializes or not, the fact that bitcoin has risen at all highs today, the market has begun to understand the value proposition and buy rather than support this $ 950 billion asset.”