Bill Gates revealed the reason why he does not invest in Bitcoin

Bill Gates Bitcoin Cryptocurrencies

While participating in a  question session on Reddit, the famous founder of Microsoft, Bill Gates, stated that he does not own Bitcoin. Going further, he took the opportunity to criticize cryptocurrencies for not generating value as companies do.

This is not the first time that the founder of Microsoft has attacked Bitcoin. Back in 2018, Gates had already stated that he would bet against the price of BTC if there was an easy way to do it. Even with the recent drop, Bitcoin is already up 197% since his speech, so the billionaire was lucky to be left out.

In the years since then, Gates has once again attacked Bitcoin, particularly after Elon Musk bought $1.5 billion worth of bitcoin for Tesla cash earlier this year.

Bill Gates Follows Warren Buffett’s Line of Thought

Although Bitcoin has already convinced large companies such as Tim Cook, CEO of Apple, the cryptocurrency does not seem to please everyone. In a question and answer session held this Thursday (19), Bill Gates again stated that he does not own any BTC.

“I have none”.

Like Warren Buffett, Bill Gates’s criticism of Bitcoin is related to its dividends, or rather, the lack of them. For these investors, it is best to invest in companies that create products and, ultimately, income.

“I like to invest in things that have income. The value of companies is based on how they make great products.”

In addition to making comparisons between Bitcoin and companies, Bill Gates followed his line of reasoning stating that the price of BTC is only related to what someone else is willing to pay.

“The value of cryptocurrency is simply what someone decides someone else will pay for it, not what it adds to society like other investments.”

Bill Gates on Reddit
Bill Gates talking about Bitcoin on Reddit.

So maybe Gates lacks vision, after all, Bitcoin can be considered a unique and desired commodity. After all, there is nothing that comes close in terms of its security, ease of transportation, transaction and storage, as well as its protection against censorship, qualities that many people look for in an asset.

Gates proved his identity through Twitter

Although he is a known user on Reddit, having had an account on the platform for 10 years, the Microsoft founder posted a photo on his Twitter to prove his identity. In the photo below, he can see Bill Gates, and his clones of him, holding up signs with his Reddit username and announcing his involvement.

In addition to Bitcoin, Bill Gates also answered questions related to vaccines, environmental issues and other more relaxed ones, such as what cell phone you use. All of his responses can be found on his personal Reddit page.