Bill Gates says NFTs are based on “greater fool-theory.”

June 15, 2022

Speaking at a climate change conference at Berkeley, California, Bill Gates once again criticized cryptocurrencies and NFTs, Bloomberg reported.

“Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically at the climate event.

Microsoft founder said digital banking innovations made through his philanthropic firms are way more efficient than cryptocurrencies.

Gates has criticized cryptocurrencies several times saying they add nothing to society.

The tech pioneer had also warned retail crypto investors to be careful if they are not as rich as Elon Musk.

When asked about if he owns any crypto, Gates said he only invests in things that have valuable output.

Bitcoin is currently trading at just near $20,500, nearly 10% down in 24 hrs.