This is Bill Gates’ opinion on NFTs: “If you don’t have as much money as Musk, be careful”
Bill Gates is not exactly a fan of cryptocurrencies, or anything related to them. He spoke about it on several occasions, for example, last March: “If you don’t have as much money as Elon Musk, be careful.” That time he was referring to the distrust that cryptocurrencies cause him, mainly due to the volatility of its value.
But more recently he spoke about the popularity of NFTs (Non-Fungible Tokens), specifically about Boored Apes or “Bored Apes”. Thus, this would not be the first time that the founder of Microsoft expressed his rejection of the blockchain world.
The Bored Apes are a series of designs that represent colorful monkeys with various characteristics in their illustration. They are bought by paying with cryptocurrencies, and they caused such a furore on the internet that the most expensive came to be valued at around half a million dollars. But its price has been greatly reduced due to the current unattractive landscape that cryptocurrencies find themselves in. Only the two most famous currencies, Bitcoin and Ethereum, are barely growing today after having suffered double-digit falls in recent months.
Gates also talks about NFTs, saying that “they are based on the dumbest theory, that someone will end up paying.” The large price increases that the Bored Apes experienced were due to the gigantic popularity that Bitcoin enjoyed , but also the viral phenomenon that these NFTs came to represent according to the billionaire.
And it is that Gates believes that precisely the last to acquire them is the one who has had to bear the losses, which followed the general collapse of cryptocurrencies. “Obviously, expensive images of digital monkeys are going to make the world a lot better,” he wryly commented at a discussion on the environment organized by TechCrunch magazine.
A way of “tax evasion”
Continuing with that meeting, Gates explained that he has never bet on the world of cryptocurrencies. “I’m not into it, I don’t invest short or long-term,” he added. He prefers to direct funds to companies that create real products, not a service that, in his opinion, “has anonymity used to evade taxes.” He told Gates that: “I’m used to assets that create products, like a factory or a farm.”
The billionaire added that he preferred to focus on finding solutions to stop global warming, and on trying to avoid future pandemics. And it is that Bill Gates dedicated his last two books to two topics of global relevance such as diseases and climate change.
The statements of this tycoon accompanied a very delicate moment for the crypto world. For example, from Bank of America (BoA) they ruled on its financial collapse, assuring that it is the largest in 50 years, and the fifth largest in history. In the last year, Bitcoin plummeted 77%, going from a maximum of $69,000 to the current $16,760.