Unless you are the richest person in the world, you should not buy Bitcoin. This is the message of Bill Gates – the third richest.
With a rally of more than 400% over the past year, Bitcoin has become increasingly mainstream, and everyone, including prominent investors and policymakers, talked about it. Eles Musk’s Tesla Inc. recently invested $ 1.5 billion in the cryptocurrency and said it would accept it for payments.
For Gates, it’s not something. Main Street must buy – on top of that, it is bad for the environment, because the mining of the coins requires a lot of energy.
“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. an interview with Bloomberg Television’s Emily Chang. ‘I think people are being bought into these manias who may not have that much money to save. My general thought would be that if you have less money than Elon, you probably need to be careful. ‘
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Musk, which is worth $ 189.6 billion according to the Bloomberg Billionaires Index was an avid supporter of Bitcoin – so much so that it influenced the price of the token. It rose 76% this month after Tesla’s investment, before tumbling 13% after tweeting the prices of cryptocurrencies.does look high. ”
The debate over Bitcoin is not new. Billionaire Warren Buffett believes cryptocurrencies have no value and yield nothing. Finance Minister Janet Yellen, another longtime skeptic, told a New York Times conference earlier this week that Bitcoin is an “extremely inefficient way of conducting transactions.”
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But with more and more companies starting to accept Bitcoin – like PayPal Holdings Inc., Visa Inc. and MasterCard Inc. recently did – the award received greater acceptance. As central banks, including the Federal Reserve and the European Central Bank, investigate the digitization of their own sovereign currencies, and companies such as Fidelity Investments Inc. launching funds with which investors can add cryptocurrencies to their portfolios should remain the debate here.
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