news hardware Bill Gates crushes Bitcoin and NFTs
It’s definitely not a big love story between Bill Gates and Kryptos. While many rich people in this world continue to express their enthusiasm for Bitcoin and NFTs, Bill Gates decides to stand out. As Bitcoin’s price plummets, taking the entire ecosystem, including NFTs, with it, the Microsoft founder seized the opportunity to deliver a final blow to the cryptosphere.
Bill Gates and Bitcoin Season 1
The American billionaire has already expressed some virulence towards Bitcoin.
In 2021, his main argument was that of ecology:
“Bitcoin uses more electricity per transaction than any other method known to man,” he said in an interview with the New York Times.
A tough position when you know that his former company, Microsoft, was never a role model for ecology. However, it is true that in recent years it has tended towards an increasing reduction in its carbon footprint.
And Bitcoin too…
In fact, according to a study by CoinShares, the Bitcoin network consumes 189 TWh, or around 0.1% of the world’s electricity production. Additionally, according to a study by the Bitcoin Mining Council, of that 0.1%, a significant portion would rely on renewable energy, around 56% in 2021.
A rather simple attack, but above all a kind of war against his opponent Elon Musk, who at the time integrated Bitcoin as a means of payment for his Tesla vehicles.
Bill Gates doesn’t buy cryptos
Last month, the American billionaire had added a layer across the entire crypto ecosystem that he felt was overly speculative.
Bill Gates said at the time: “I like to invest in things that have value. The value of companies is based on how well they make great products. The value of crypto is based solely on what one person decides how much another person will pay for it. »
On June 14, the former Microsoft exec threw back cover as Bitcoin price fell sharply, taking it to the $20,000 mark.
During TechCrunch Climate 2022, Bill Gates clarified his opinion on cryptocurrencies by saying “I have nothing to do with it”.
To him, bitcoin exists thanks to the “biggest fool theory,” which illustrates an idea that even if bitcoin is overvalued, you can make a profit if you manage to sell it to someone “foolier” than you . In short, it implies that Bitcoin would be a Ponzi scheme. The later you arrive, the more you enrich the first-comers.
Under this prism, how would Bitcoin differ from a Microsoft stock, which traded for pennies then and now costs more than $200?
Beyond bitcoin and cryptos, Bill Gates used this conference to add a new destination to his list…
Bill Gates tackles the NFT
Immediately after this incursion into the cryptosphere, the billionaire voiced his sarcasm towards the NFTs and Bored Ape in particular.
“Of course, these expensive digital monkey images will greatly improve the state of our world,” he said dryly.
He thinks JPEGs of monkeys are a big joke given the threats to the world, a comparison that isn’t entirely “legitimate”…
