Bill Gates warns people with less money than Elon Musk about Bitcoin

Microsoft founder Bill Gates has warned people who have less money than Tesla founder Elon Musk against investing in Bitcoin.

52 seconds read time

Microsoft founder Bill Gates warned people during an interview late last month against investing in the biggest cryptocurrency, Bitcoin.

Gates sat down with Bloomberg Technology for an interview on February 22, where he was asked his thoughts on Tesla's investment in Bitcoin, and the price volatility of the digital asset. Gates cautioned against investing in Bitcoin, saying his general thought would be "if you have less money than Elon, probably watch out". Gates was then asked why he isn't bullish on Bitcoin, which he then followed up by saying that Bitcoin uses "a lot of energy", promotes "anonymous transactions" that aren't reversible.

Gates then said that the Gates Foundation does do "a lot in terms of digital currency" but does it differently where transactions aren't anonymous and deals with other problems with Bitcoin, such as money laundering and nefarious activities. The Microsoft co-founder agrees that the push towards digital money is overall a "super positive thing" that will eventually be able to reach some of the poorest countries in the world.

Bill Gates warns people with less money than Elon Musk about Bitcoin 01
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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