Bill Gates destroys Bitcoin and NFT

News hardware Bill Gates destroys Bitcoin and NFT

Surely between Bill Gates and cryptocurrencies it is not exactly a great love story. While many wealthy people in this world continue to express their enthusiasm for Bitcoin and NFT, Bill Gates decides to stand out. As the price of Bitcoin plummets and takes with it the entire ecosystem, including NFTs, the founder of Microsoft took the opportunity to deal one last blow to the cryptosphere.

Bill Gates and Bitcoin season 1

The American billionaire has already expressed a certain virulence towards Bitcoin.

In 2021, his main topic was that of ecology:

“Bitcoin uses more electricity per transaction than any other method known to mankind,” he said in an interview with the New York Times.

A harsh stance when you know that his former Microsoft company has never been an example for ecology. However, it is true that it has tended to increasingly reduce its carbon footprint in recent years.

And also bitcoin …

According to a study by CoinShares, in fact, the bitcoin network consumes 189 TWh, or approximately 0.1% of the world’s electricity production. Furthermore, according to a study by the Bitcoin Mining Council, of this 0.1% a significant part would draw on renewable energy, about 56% in 2021.

A somewhat easy attack but above all a way to wage war on his counterpart Elon Musk who, at the time, was integrating Bitcoin as a means of payment for his Tesla vehicles.

Bill Gates does not buy cryptocurrencies

Last month, the American billionaire had added a layer covering the entire crypto ecosystem that he considered too speculative.

Bill Gates then said: “I like to invest in things that have value. The value of companies is based on how well they make great products. The value of cryptocurrencies is only based on what one person decides how much another person will pay. “

On June 14, the former Microsoft executive returned the cover as the price of Bitcoin dropped sharply, bringing it to the $ 20,000 level.

During TechCrunch Climate 2022, Bill Gates clarified his opinion on cryptocurrencies by saying “I have nothing to do with this”.

For him Bitcoin exists thanks to the “theory of the greatest fool” which illustrates the idea that, even if bitcoin is overvalued, you can make a profit if you can sell it to someone more “stupid” than you. In short, he implies that bitcoin would be a Ponzi scheme. The later you arrive, the more you enrich the first arrivals.

Under this prism, how would Bitcoin be different from a Microsoft stock that was trading for pennies at the time and now costs more than € 200?

In addition to Bitcoin and cryptocurrencies, Bill Gates took advantage of this conference to add a new target to his list of hunters …

Bill Gates takes on the NFT

Immediately after this cryptosphere intervention, the billionaire expressed his sarcasm towards the NFTs and more particularly the Bored Ape.

“Of course, these expensive digital monkey images will greatly improve the state of our world,” he said wryly.

He feels that monkey jpegs are a big joke in the face of threats to the world, a comparison that is not really “legitimate” …

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