Post
Topic
Board Bitcoin Discussion
Re: Why is Bill Gate against investing into bitcoin?
by
leetcoiner
on 11/12/2018, 14:49:58 UTC
I recently read through the comments made by Bill Gate on bitcoin and other related cryptocurrencies (https://www.google.com.gh/amp/s/www.cnet.com/google-amp/news/microsoft-founder-bill-gates-would-bet-against-bitcoin/). From the comments he made, it is obvious that, Bill Gate is against investing into cryptocurrency. Critically appraising and analyzing how helpful bitcoin and other cryptocurrency are and base on the comments Bill Gate made, I don't see the reason why he is against cryptocurrency. Probably he might be having his own reasons of which I am not aware of. Can someone help as to why Bill Gate spoke against bitcoin and other cryptocurrencies?

Obviously, he will be against cryptocurrency because cryptocurrencies pose a potential threat to his capital. If everyone starts using the crypt actively and it officially takes the status of a valid currency in the world, the cost of Fiat money will begin to strive for zero, as the need for them will slowly disappear.