+ 4.58
+ 1.51%
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Bill Gates Has 'Neutral' Feelings For Bitcoin But Recognizes Value Of Technology

February 18, 2021 5:25 pm
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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

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