Bill Gates said he doesn’t own any cryptocurrency because it isn’t ‘adding to society’

Bill Gates said he doesn’t own any cryptocurrency because it isn’t ‘adding to society’

Microsoft co-founder and fourth-richest person in the world Bill Gates says he isn't a cryptocurrency investor because it isn't "adding to society." On Thursday, Gates did a in which a user asked his thoughts on Bitcoin and cryptocurrencies. "I don't own any," Gates wrote. "I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments." The statement from Gates comes amid reports of a crypto crash. Bitcoin's in May and Gates has expressed disapproval about cryptocurrency before. He once warned those to be wary about buying into the crypto boom, especially those who were not as rich as . "I do think people get bought into these manias, who may not have as much money to spare, so I'm not bullish on Bitcoin, and my general thought would be that, if you have less money than Elon, you should probably watch out," in 2021. He's also railed which accounts for a large share of the world's energy consumption. In 2021, crypto mining accounted for