Microsoft founder and Bitcoin skeptic Bill Gates pulled no punches this week, naming cryptocurrency at the top of his list of inventions the world would be better off without.
As reported by MarketWatch, Gates gave his scathing opinion in an interview with the Wall Street Journal: “The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that.”
Although, to be fair to the world’s fourth richest man, Gates did quickly add, “I probably should have said bio weapons. That’s a really bad thing.”
He also cited wild volatility and the inability to predict price trends as more reasons why he’s so far steered clear of crypto.
However, in another interview (this time with CNBC), the Microsoft co-founder seemed to soften his stance.
- Gates now describes himself as Bitcoin “neutral.”
- While not entirely sold on the idea, Gates now reckons there may be something in Bitcoin’s tech — particularly the ability to lower transaction costs).
- Gates said he no longer wants to short Bitcoin, despite his previous comments.
Gates has criticised Bitcoin before
In a 2018 interview, he described it as “kind of a pure ‘greater fool theory’ type of investment,” adding that he’d been given Bitcoin as a birthday present before but had sold it.
And for what it’s worth, Microsoft president Brad Smith recently poured cold water on speculation that the company might be next to buy Bitcoin, telling CNN, “I haven’t heard any new conversation about Bitcoin.”