Bill Gates just added Bitcoin and cryptocurrencies to the list of things he wants the world to get rid of.
He appears to be in the middle of some kind of attack on Bitcoin.
Bitcoin’s roller coaster ride continues. The top cryptocurrency surged to a new all-time high above $58,000 on Sunday but fell to just above $46,000 in early trading Tuesday morning.
The move followed skeptical comments from Tesla CEO Elon Musk, Treasury Secretary Janet Yellen and Microsoft co-founder Bill Gates.
Prices stabilized around $48,000 in early trading Tuesday, but that’s still a more than 10% drop from Monday’s levels.
In an interview with Bloomberg, Gates said that it was one thing for Musk and Tesla to invest in bitcoin, but that doesn’t mean average investors should follow that lead.
“I do think people get bought into these manias, who may not have as much money to spare, so I’m not bullish on bitcoin,” Gates said.
“My general thought would be that, if you have less money than Elon, you should probably watch out.”
And in case you’re keeping score at home, everybody except Amazon CEO Jeff Bezos has less money than Elon — including Bill Gates.
It’s also worth noting that Gates, like his good friend Warren Buffett, has been bearish on bitcoin for some time — a position that could have lost average bitcoin investors a lot money if they had listened to him.
In fact, Gates said in 2018 that he would short bitcoin if there were an easy way to do it. The cryptocurrency was trading for less than $10,000 at the time.
Despite the recent pullback, bitcoin prices are still up more than 65% so far in 2021.
On February 18, he expressed his desire to get rid of cryptocurrencies.
Bill Gates, the Microsoft co-founder and technological whiz turned philanthropist, may not be a fan of bitcoin and digital-assets.
Asked during an interview published on Thursday with The Wall Street Journal what technological advancement the world could do without, Gates had this to say:
“The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that,” he quickly added: “I probably should have said bio weapons. That’s a really bad thing.”
By “certain criminal activities,” Mr. Gates is certainly at least in part referring to the fact that political dissidents and other people who have been banned from mainstream payment processors can receive money through cryptocurrencies.
So far, the list of things Bill Gates wants to delete from the world includes (but it is not limited to) the following items:
- Human rights
- Free will
- Free speech
- Human dignity
However, we know for a fact that Bill Gates doesn’t want to get rid of poop.
It’s notable that the other silicon valley billionaires are pro-crypto. Elon Musk is going hard on it, and Jack Dorsey has been promoting it for years. Dorsey’s Square just bought over a hundred million in Bitcoin.
It’s not clear if it’s real or not, but there is an emerging rivalry between Elon Musk and Bill Gates. Bill Gates recently came out and effectively said that he is a better, more moral person than Musk (kinda weird sentiment to publicly express, but Gates is a very weird man).
Remember: Musk was the only person in Silicon Valley, and really the only famous person in the world, to come out with the facts from the Specular Effect about the coronavirus hoax, which was effectively created by Bill Gates.
It’s impossible to know if this emerging Musk-Gates rivalry is real or just a staged hoax for public consumption. It could conceivably be either, really.
What is clear is this: whether it is real or not, Gates is going to win.
He probably won’t win on crypto, however. That’s a bit too big to fail.