In an interview with CNBC’s Andrew Ross Sorkin, Microsoft co-founder Bill Gates said he changed his view of Bitcoin to neutral. The fourth richest person in the world says he still doesn’t own Bitcoin:

“I don’t own bitcoin. I’m not short on bitcoin either. That’s why I got a neutral view. ”
Besides, Gates acknowledges the importance of digitizing money and reducing the cost of transactions. Gates pointed out that his foundation uses some digital currencies in developing regions, but does not use cryptocurrencies such as Bitcoin:

“I think taking money into a more digital form and lowering transaction costs is something the Gates Foundation is doing in developing countries. But in our project, the transactions can be undone, it can be seen who did what and who did these operations. Therefore, these transactions are not done for tax evasion or illegal actions. ”

Gates presented harsh criticism of the leading cryptocurrency in May 2018, claiming that if there were an easy way, he would want to stop:

“As an asset class, you can’t expect it to rise when you don’t produce anything. Cryptocurrencies are part of a bigger theory of nonsense. ”

Although Bitcoin has increased almost 500 percent since this comment, Microsoft co-founder believes the rally was mainly caused by “madness”. With regard to Bitcoin, Gates stated that market speculation is the main driver of price and he does not know how it will turn out in the future:

“But Bitcoin can only go up or down to madness or whatever opinions are, and there is no way to predict how that will progress.”


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