American business magnate and Microsoft co-founder Bill Gates has said that he has no investment in Bitcoin or ever predicted its price. Speaking with CNBC’s Squawk Box on the 18th of February, the billionaire said:
“I don’t own Bitcoin, I’m not short Bitcoin. I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries.”
Speaking further, Gates however said that people use digital currency in illegal activities and to avoid paying tax. He added that his foundation, Bill & Melinda Gates Foundation, “moves money into a more digital form” and provides transparency during the transaction.
Stating that he has taken a neutral view on Bitcoin, Gates added:
“Bitcoin can go up and down just based on the mania or whatever the views are. I don’t have a way of predicting how that will progress.”
Gates has always criticized cryptocurrencies. In 2018, Gates said he believes that the anonymity of crypto transactions is not a “good thing.” He said that because people now use it to buy illegal drugs, crypto is “a rare technology that has caused deaths in a fairly direct way.”
The sitting president of Microsoft, Brad Smith, also revealed that the company has no immediate plans to invest in Bitcoin.
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