The billionaire warns of cryptocurrencies: “Those who have less money than Elon Musk should be careful.”
Bill Gates is not a fan of cryptocurrencies. In an interview with Bloomberg, he was critical of Bitcoin and Co.
On the one hand, Bill Gates, who invests in climate protection among other things, is bothered by the high energy demand caused by mining cryptocurrencies. You are thus environmentally harmful. On the other hand, cryptocurrencies are only for the very rich.
Hype
Bill Gates, who is currently the third richest person in the world, does not mean himself. He is referring to Elon Musk, who is an avowed fan of crypto currencies.
As the interview progresses, Gates becomes specific: “Elon has a lot of money and experience. You don't have to worry about him if his bitcoins increase or decrease in value more or less randomly. But people who don't have that much money are drawn into the hype. I think those who have less money than Elon Musk should be careful. “
Elon, the crypto fan
Elon Musk is credited with being the cause of massive price fluctuations in cryptocurrencies. After his announcement that Tesla would invest $ 1.5 billion in Bitcoin, the price jumped 76 percent in the short term. At a later date, he said that prices seem pretty high right now, causing the Bitcoin price to drop more than 10 percent.
He also repeatedly helped the fun crypto currency Dogecoin to jump in price with his tweets. In contrast to Bitcoin, the meme nature of the currency means that there is less danger that private individuals will gamble away all of their savings in the hope of making quick money.
