fbpx
QQQ
+ 4.58
299.52
+ 1.51%
DIA
+ 5.52
304.13
+ 1.78%
SPY
+ 6.84
369.88
+ 1.82%
TLT
+ 0.27
138.37
+ 0.19%
GLD
+ 0.05
159.02
+ 0.03%

Bill Gates Has 'Neutral' Feelings For Bitcoin But Recognizes Value Of Technology

February 18, 2021 5:25 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Bill Gates Has 'Neutral' Feelings For Bitcoin But Recognizes Value Of Technology

Microsoft Corporation (NASDAQ:MSFT) founder Bill Gates said he was “neutral” about Bitcoin (BTC) while acknowledging the cryptocurrency’s role in bringing down transaction costs.

What Happened: “I don’t own Bitcoin. I’m not short Bitcoin,” said Gates in an interview with CNBC today.

"I do think moving money into a more digital form and getting transaction costs down, that's something the Gates Foundation does in developing countries," he added.

Why It Matters: After Tesla’s (NASDAQ:TSLA) $1.5 billion allocation towards Bitcoin, a market-wide belief has been that another Fortune 500 company might do the same soon.

It seems unlikely that this will be Microsoft. Gates went on to say, “Bitcoin can go up and down based on the mania or whatever the views are, and I don’t have a way of predicting how that will progress.”

Earlier this week, another Microsoft executive, President Brad Smith, told CNN, “I haven’t heard any new conversation about Bitcoin.”

Price Action: Bitcoin price, which retained support above $50,000 and was trading at $51,983.33 at press time.

Image: WikiCommons


Related Articles

Bitcoin Volatility On Path To Drop Below Amazon's, Analysts Say

What Happened: Annual Bitcoin volatility will drop below that of Amazon Inc. (NASDAQ: AMZN) in a few years if past patterns prevail, according to analysts from Bloomberg. read more

Bitcoin Play Cipher Mining To Go Public With SPAC Merger

One of the leading providers of Bitcoin (CRYPTO: BTC) mining hardware and blockchain software and services is going public in a SPAC merger. read more

Kraken CEO Says Bitcoin Hitting $1M In 10 Years 'Very Reasonable'

Jesse Powell, CEO of the major U.S based cryptocurrency exchange Kraken, believes that Bitcoin will eventually replace all of the world's currencies. read more

Wealth Managers Like Jim Paulsen Regret Not Having More Cryptocurrency In Portfolio: Reuters

What Happened: Regulatory constraints around cryptocurrencies are a cause for concern for wealth managers across the globe. read more