Bill Gates, popular tech billionaire and founder of the world’s most valuable software maker, Microsoft, recently revealed he is open-minded towards the world’s most popular crypto asset but does support the digitalization of fiat currencies as it would drive down the operational costs of managing paper money.
Speaking in an interview with CNBC’s Squawk Box recently the tech billionaire disclosed he has a neutral view on Bitcoin. He also revealed he hasn’t bought any bitcoin.
"I don't own #Bitcoin. I'm not short Bitcoin," says @BillGates. "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." pic.twitter.com/DDe5X196ax
— Squawk Box (@SquawkCNBC) February 18, 2021
The highly respected tech entrepreneur added the high price volatility of Bitcoin was being driven by “mania” prevailing in crypto markets making it hard for a normal investor to predict the crypto asset’s trajectory.
At the time of drafting this report, Bitcoin traded at $56,649.42 with a daily trading volume of $65 Billion and is up 1.55% for the day. It currently has a market value of $1.056 trillion.
The world’s most popular crypto asset some hours ago broke a very important milestone.
Still, some leading traditional finance experts are also not buying into the flagship crypto bullish run as they see little value in the digital currency on the account that they believe Bitcoin, and other leading cryptos are just part of a larger speculative bubble.
However, many crypto experts argue that this could be Bitcoin’s most important milestone to date, as it is now the sixth most-valuable asset worldwide.
The 65-year-old tech billionaire has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, which he donated to his philanthropic foundation.
He is currently the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.
Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.
For many years, Gates had been the world’s richest man. He now has a fortune of $136 billion with a 2021 gain of about $4.62 billion. Gates’s current wealth valuation can presently buy 76.3 million troy ounces or 2.17 billion barrels of crude oil.