Bill Gates, the founder of Microsoft, recently shared his stand on BTC in an interview with The Wall Street Journal. The billionaire technologist turned philanthropist hinted that he sees digital assets as prone to abuse by criminal elements.
“The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that,” he noted.
Gates’s comments vaguely suggested that he isn’t a big fan of cryptocurrencies. The billionaire investor clarified his remarks on digital assets in another interview with CNBC aired on Thursday.
During his interview, Bill Gates stated that he doesn’t own any cryptocurrencies and is not short BTC. However, he clarified that he has a “neutral view” on crypto but warned that the nascent asset class could fluctuate based on the mania or speculation.
Gates also admitted that he sees crypto as a medium for possible tax evasion and illegal activity.
Other Billionaires Oppose Gates on BTC
Despite his seemingly moderate stance on CNBC, where he claimed to be neutral on the crypto, Gates has come out in the past to show his strong disapproval for BTC.
In a 2018 interview with CNBC’s “Squawk Box,” the philanthropist called out the speculative nature of Bitcoin, adding that he would short BTC prices if he could.
Following those remarks, Tyler Winklevoss, the Gemini exchange co-founder, quickly moved to set the anti-crypto billionaire right.
Winklevoss tweeted directly to Gates, informing him that BTC Futures could be traded at the Chicago Board Options Exchange (Cboe). He then went on to challenge Gates to “put his money where his mouth is” and bet against BTC on Cboe.
Tyler and his twin brother Cameron are well-known BTC supporters who famously invested heavily into bitcoin years back when one coin was valued at around $120. They are now cashing in big on their BTC investment, which has recently made them billionaires.
Other billionaires are quite positive on the world’s leading crypto, likely watering down Gates’ earlier negative sentiment on the digital asset.
For instance, billionaire asset manager Ray Dalio recently changed his once negative stand on BTC, admitting that the coin is one hell of an invention and a gold-like asset.
Bitcoin Continues to Make Bullish Moves
BTC has long been condemned for its role in facilitating criminal activity due to its decentralized, anonymous attributes. Critics also claim that the tech is attempting to solve a problem that doesn’t exist, adding that mining BTC consumes ridiculous amounts of energy.
Even so, the king coin continues to defy expectations and has been making parabolic moves in recent months. The digital asset is up nearly 80% in 2021, outperforming Gold, its top safe-haven rival, which has shed gains of about 6.4% since the start of the year.