Bill Gates Takes a “Neutral” Stance on Bitcoin

Bill Gates, the Microsoft founder turned philanthropist has weighed in on the most talked-about asset Bitcoin in recent times and said that even though he does not hold any bitcoin, he is not short on the top cryptocurrency but rather has a neutral stance. Gates comments came during his interview with CNBC. He said,

I don’t own Bitcoin, I’m not short Bitcoin. So I’ve taken a neutral view,”

"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

Gates also revealed that even though his foundation is involved with digital currency transactions, though it is not necessarily in bitcoin. He added,

“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.”

Bill Gates Beleive Bitcoin Price is Speculative

Bill Gates who now mostly spends his time in philanthropy work suggested that he is not aware of how bitcoin would fair in the future but suggested that the current price movement is highly speculative. He said,

“But Bitcoin can go up or down just based on the mania or whatever the views are and I don’t have a way of predicting how that will progress,”

Gates also shared his views on the recent Reddit frenzy leading to high price volatility in the stock market that created quite a controversy. Gates believe SEC should “look at this because we don’t think of the stock market as just performing a casino-like role”

"How the disclosure rules should work now that you have Reddit forums– the SEC's got to look at this because we don't think of the stock market as just performing a casino-like role," says @BillGates. pic.twitter.com/uq9mCvrMun

— Squawk Box (@SquawkCNBC) February 18, 2021

While most of the leading financial institutions including the likes of BNY Mellon, Blackrock, JP Morgan, and many others have either already dwelled in bitcoin or are actively looking to integrate it looking at its growing demand, Gates comment reflects a lack of interest in the digital asset as he expressed that he is not aware how the top cryptocurrency would fair in future.