Bill Gates: I don't have bitcoin and I treat it neutral

by in Cryptocurrency News

Bill Gates

Microsoft founder Bill Gates said in an interview with CNBC that he has taken a neutral stance on Bitcoin.

“I don’t have bitcoin, I don’t have a short position in bitcoin. I am neutral towards this asset,” he said.

Gates noted that his foundation uses certain forms of digital currency in developing regions, but not cryptocurrencies.

As for bitcoin, according to Gates, market speculation is the main reason for the rise in its price. “Bitcoin can rise or fall only because of mania or any views. I cannot predict how this market will develop,” he said.

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In May 2018, Gates criticized Bitcoin and stated that he would go short on BTC.

“As an asset class, bitcoin produces nothing and therefore cannot grow. This is an investment from the "big fool theory" category. I would open a short for him if it could be done easily. I consider Bitcoin and ICOs to be pure insanity and speculation,” he said then.

Microsoft President Brad Smith said this week that the company does not have any short-term Bitcoin investment plans at this time.