Bill Gates Cryptocurrency Own bullish Reddit Thursday Ama Bitcoin Btc Ethereum Eth Price

New Delhi: Bill Gates, the billionaire philanthropist and co-founder of Microsoft, doesn’t seem to be jumping on the crypto bandwagon anytime soon. Gates showed his disinterest in cryptocurrencies as he believes they don’t contribute to “society” like other investments. This isn’t the first time Gates has spoken out against digital currencies. Cryptocurrencies are facing a rough month, struggling to get in the green since the collapse of stablecoin TerraUSD last week. With a net worth of $125 billion, Gates is the fourth richest person in the world.

During an Ask Me Anything interaction Thursday on Reddit, Gates said, “I like investing in things that have a valuable output. The value of companies is based on how they make great products. The value of crypto is just what another person decides someone else will pay for it, not contributing to society like other investments.”

Unlike other investors who are increasingly turning to crypto, Gates does not appear to be being wooed by digital currencies just yet, as he said in an interview with Bloomberg in early February that he is not bullish on crypto. He expressed his concerns about ordinary investors investing their money in cryptos. He said as a friendly warning, “If you have less money than Elon, you should probably be careful.”

When the stablecoin TerraUSD collapsed last week, the entire crypto market has been in a constant free fall ever since. So far this month, Bitcoin is down 27 percent and Ethereum is down 36 percent.

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At the time of writing, Bitcoin price is $30,045.28 according to CoinMarketCap data. According to Indian exchange WazirX, the BTC price was at 24.37 rupees. ETH price, on the other hand, was at $2,016.53. Ethereum price in India stood at Rs 1.63 lakhs.

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