Bill Gates warns bitcoin investors: Those with less money than Elon Musk should be careful

Microsoft founder Bill Gates warns bitcoin investors. ‘If you have less money than Elon Musk, you should probably pay attention, said the billionaire and ex-Microsoft boss. Since Musk, Tesla’s CEO, is just about the richest person on the planet, he’s targeting anyone who owns bitcoin.

The billionaire and philanthropist was asked his opinion about Tesla’s new investment strategy during an interview with Bloomberg TV. That company can now also buy crypto coins with money that it does not need immediately. That recently led to a bitcoin purchase of 1.5 billion dollars by Tesla.

According to Gates, Elon Musk has trading techniques that the average investor does not have. For example, he can make the course go up and down by sending tweets. In addition, he has tons more money than ‘normal’ people who buy bitcoin.

‘I fear that people who don’t have that much money will get carried away by a kind of manic optimism. I myself am not ‘bullish’ about bitcoin. My thought would be: if you have less money than Elon, you should probably pay attention.’

Digital currency

Gates is negative about bitcoin because its ‘mining’ requires too much computer power and, therefore, electricity. He is also not a fan of its anonymous nature.

The former Microsoft CEO believes that more transparent digital currencies have a better future. He is talking about digital currencies that comply with all regulations and at the same time offer the advantages that are associated with cryptocurrency transactions.

Bill Gates himself was once the richest man on earth, with a net worth of $98 billion as of 2020. In this ranking, he had already seen Amazon boss Jeff Bezos $189.3 billion, and last year Tesla boss Elon Musk ($167 billion) surpass him.

Ngonah Yaya

Ngonah Yaya, from Kenya, I'm a content writer and Author on Afinik.com. A graduate with a Bachelor of Education Arts in English and Literature, University of Nairobi, Kenya Check my article here on Afrinik. Email: Ngonah@afrinik.com

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