Everyone in the crypto community knows how much Bill Gates hates cryptocurrency and NFTs. Recently, he told in a TechCrunch event that Bored Ape NFTs are nothing but “expensive digital images of monkeys.”
He also warned that criminals could use cryptocurrency to launder money or anonymously buy illegal goods.
After all, there’s just no way to convince the Microsoft founder to change his opinion toward blockchain technology.
Crypto Has No Value According to Bill Gates
When asked about his thoughts on crypto and NFTs, he dismissed the steep costs of some NFT collectibles. He also stated that the sort of assets he admires is not a cryptocurrency.
“I think people are excited about something new, and I get that,” Gates said. “I’m not excited about paying $69 million for an expensive digital image of a monkey. That doesn’t strike me as improving the world immensely.”
Gates has been critical of cryptocurrencies in the past, saying in 2018 that Bitcoin and other digital assets were “one of the crazier, speculative things” he’d seen.
He also warned that criminals could use cryptocurrency to launder money or anonymously buy illegal goods.
Given his past comments about the space, it’s not surprising that Gates is dismissive of crypto and NFTs.
But it’s worth noting that he’s not alone in his thinking.
Many high-profile investors and business leaders have also been critical of the crypto space, including Warren Buffett, Jamie Dimon, and Charlie Munger. So while the crypto world continues to grow and evolve, it’s clear that there are still plenty of skeptics out there.
Cryptocurrency values dropped this week when Celsius, a crypto lending firm, stopped all account withdrawals. There are worries about Celsius’s impending bankruptcy and possible ripple consequences across the cryptocurrency market following the issue. According to Celsius, it is doing its best to support the community within the given time.
