Bill Gates calls cryptocurrency a redundant invention

The Microsoft co-founder insists he doesn't hold any cryptocurrencies right now and thinks the world would be better without it.

Responding to a CNBC question about "a huge amount of energy is being used to extract Bitcoin despite global climate change", Bill Gates said: "I neither own Bitcoin nor there is a need for ownership, so I will have a neutral view.

He added: "Bitcoin can go up or down based on anyone's feelings or views and I have no way of predicting that volatility."

Billionaire Bill Gates used to call Bitcoin crazy speculation

The billionaire appreciates the emergence of Bitcoin and other cryptocurrencies but claims that they are being used for illegal activities in developing countries. "I think moving cash to digital will reduce transaction costs. That's what the Gates Foundation does in developing countries, everyone can know how much money is spent on their operations, "Gates says can".

Answering the Wall Street Journal with the question: "How technology would this world be better without it?", Gates said: "How cryptocurrencies work can allow for some criminal activity. it takes advantage, and it would be better to get rid of it.

This is not the first time Bill Gates has expressed disparaging views on Bitcoin and cryptocurrencies. Share with CNBC in 2018, Gates said: "As an asset class, you do not produce anything and you should not expect it to go up. That is the type of investment theory to deceive Net I agree that I would short Bitcoin if there was an easy way to do so.

Meanwhile, Microsoft recently patented a "cryptocurrency system that uses body activity data", aimed at eliminating the role of specialized mining systems. human activities, including brain waves and body temperature, to perform mining quests, thereby helping to verify the bonus amount.

According to Forbes' real-time billionaires' list, Gates is fourth with a net worth of $ 124 billion. Topping the list is Jeff Bezos with a net worth of $ 189 billion, followed by Elon Musk with $ 182 billion.