Bill Gates urges people to not make wildly popular investment and warns them to 'watch out'
Bill Gates is urging people to not make an investment that is wildly popular at the moment.
Instead, the tech billionaire has warned that people should ‘watch out’.
It looks like the Microsoft co-founder has made his opinion on cryptocurrency pretty clear after a recent interview.
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Speaking to The New York Times, Gates was asked about his thoughts on crypto coins and whether it has any use.
In response, the billionaire said: “None, there are people with high I.Q.s who have fooled themselves on that one.”
Bitcoin has seen a surge in its value in recent months but it looks like Gates, who has an estimated net worth of $165 billion - won’t be investing.
However, others seem to be on board with crypto wave as President Donald Trump launched his own meme coin, $TRUMP, in January.
This was soon followed by his wife, Melania Trump, who released $MELANIA.
But this isn’t the first time that Gates has been vocal about his criticisms of crypto.
Back in 2021, he spoke to Bloomberg where he spoke about fellow tech mogul, Elon Musk, saying: “Elon has tons of money and he’s very sophisticated so I don’t worry that his Bitcoin will randomly go up or down.
“I do think that people get bought into these manias who maybe don’t have as much money to spare. So I'm not bullish on Bitcoin.”
Gates went on to add: “My general thought would be that if you have less money than Elon then you should probably watch out.”
Of course, considering the fact that Musk is now the richest man on the planet, you’d be hard pushed to find anyone on Earth with a greater wealth.
So, it looks like Gates is urging everyone to be careful when it comes to investing in cryptocurrency.
While Bitcoin did hit an all time high last year, one expert has concerns that the future of the coin might not be so bright.
Glen Goodman, who is the author of bestselling book The Crypto Trader, previously said: “I follow trends and by my calculations Bitcoin could be peaking at about $120,000 towards the end of January. This might well be a high point – as it then passes a theoretic red line that by my calculation goes above an expected trend. At this time, it may be time to sell.”
He added: “I hope to buy when prices start rising and sell when they go down. But one thing you learn in this game is humility. You can get it spectacularly wrong. Crypto may just be a passing fad or turn out to be the new digital gold where it continues to go up like a precious metal. No one knows what is going to happen – no matter how much they might claim to be an expert.”