The man prefers to invest in the old style.




Speaking at Sessions: 2022, Microsoft founder Bill Gates criticized cryptocurrencies and said it wasn't "long or short" on them. Gates also took the opportunity to mock some of the non-replaceable symbols at the event.

Gates' comments come at a time when the cryptocurrency market has shrunk to a third of its maximum value at the end of November last year. Companies involved in cryptocurrency trading, which spent millions of dollars in advertising earlier this year, announced layoffs of up to 20 percent of employees for fear of a "crypto winter" in the future.

Bill Gates opposes cryptocurrencies again

This is not the primary time Gates has vehemently rejected cryptocurrencies.. In an interview last year, Gates also said that while the likes of Elon Musk and his tesla company may invest in Bitcoin, the average investor should not follow suit and invest as well.
He also warned that people who don't have much money to spare also buy into this obsession. Gates said these digital assets are "100% based on a more deceptive theory," as investors make money on assets that are worthless or overvalued as long as people are willing to bid higher on them.

The Jets also took a heavy hit on the non-replaceable symbols (NFTs), which were all crazy last year. A long list of celebrities from the world of sports, entertainment and beyond paid the highest dollar for a digital photo of bored Ape group. Gates' comments were full of ridicule when he said, "Expensive digital images of monkeys [will] greatly improve the world."
Where does Bill Gates invest his money?
Gates also revealed that he was an old-fashioned investor and preferred to put his investments into asset classes such as a farm with a production or a company that makes products.

Last month, we were informed that while the world's richest billionaires lost $115 billion, Gates' $15 billion losses were relatively lower. After leaving his daily role at Microsoft, Gates largely diversified his investments through Warren Buffett's Berkshire Hathaway holdings.

By the way, earlier in May, Buffett expressed his rejection of cryptocurrencies when he told investors at his company's annual general meeting that he would not pay $25 for all bitcoins in the world.

The recent high volatility in cryptocurrencies has once again raised questions about cryptocurrency as a means of investing. While banks like JP Morgan are backing Bitcoin to come back again, another interest rate increase recently announced by the US Federal Reserve could lead to bitcoin values being lowered until 2017, investors warned.
However, the loss of cryptocurrency can be a win-win for the environment.
Cryptocurrency transactions have a significant environmental impact, and if the low encryption market is pushing people towards climate change technology, this should be a welcome change, right?