Bill Gates explains why he hasn't purchased any cryptocurrency

Microsoft founder Bill Gates has recently participated in a Reddit Ask Me Anything (AMA) where he explained why he doesn't hold any cryptocurrencies.

Gates took to Reddit yesterday to answer numerous questions ranging from his philantropy ventures into climate change, vaccines, COVID-19, how young people can impact the world and cryptocurrencies. Gates was asked what he thought about Bitcoin and other cryptocurrencies, Gates stated that he doesn't own any cryptocurrencies and that he likes "investing in things that have valuable output".

The Microsoft founder explains that companies "valuable output" is based on the product that they make and the quality of it, while the "value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments." These remarks from Gates about cryptocurrency are hardly surprising as the world's fourth richest individual said in March that if you have less money than Elon Musk and are involved with cryptocurrencies "probably watch out".

If you are interested in reading some of the other questions Bill Gates answered, you can check out the Reddit AMA here.