Bill GatesThe founder of Microsoft and the third richest person in the world, is not a supporter of Bitcoin, partly due to environmental reasons. According to the billionaire, not only does the cryptocurrency consume a lot of energy, but it can also cause problems for investors who do not have much money to spare, given its price fluctuation.
“Gates said Elon has tons of money and he’s very sophisticated so I’m not worried about his bitcoin randomly rising or falling. Told Bloomberg in an interview. “I think people get carried away with these fads, and they might not have a lot of money to spare, so I am not optimistic about Bitcoin, and my general thinking is that if you have less money than Elon, you’d probably be careful.”
Bitcoin fell 13% on Tuesday to around $ 46,817, down from a record high of $ 58,354 just two days earlier, as investors reaped gains from nearly doubling the price since the start of the year. This Wednesday, its price is rebounding.
Philanthropist and climate activist Gates, who recently released his book “How to Avoid a Climate Catastrophe,” has previously said that cryptocurrencies caused deaths entirely directly. He also believes that anonymity behind Bitcoin transactions is not a good thing.
“The Gates Foundation does a lot about the digital currency, but these are the things that you can see who is doing the transaction,” he said. “Digital money is a good thing. It’s a different way.”
Gates is just one of the big names that has emerged in recent days as a critic of Bitcoin’s obsession, despite cryptocurrency assets being traded on the books.
Chancellor of the Exchequer , Janet Yellen, Also expressed doubts about cryptocurrencies and their environmental impact, given the amount of energy used to mine digital tokens.
I don’t think Bitcoin is widely used as a transaction mechanism, ”Yellen told The New York Times on Monday.“ It is a very ineffective method of making transactions, and the amount of energy that goes into processing these transactions is staggering. ”
The economist who predicted the recent global financial crisis, Nouriel RoubiniHe rejoins the list of toughest critics as he has done in the past.
The truth is, no one knows the value of this bogus asset. It has no value because it has no income, no benefit, and no benefit. So it’s a complete speculative game in a self-fulfilling bubble. And now we in 2017, like hundreds of thousands of retail goons, who have some kind of fear of getting lost, fall into that asset class. They will buy at their peak, as they did in December 2017, when the bitcoin price was at $ 20,000. “It fell to $ 3,000 at the end of the following year,” Roubini said on Tuesday.
Dissenting voices also came from India. Investor Rakesh Jhunjhunwala, the billionaire highly regarded in this market, has expressed support for the imminent cryptocurrency ban in his country, warning that the hangover of Bitcoin’s craze will be worse than the party itself.
“I think it’s first-rate speculation. I don’t want to join every party in town. I think the hangover is much worse,” he said.
Jhunjhunwala is keen to see Indian regulators agree to his Bitcoin ban.
“I think the regulators should step in and ban Bitcoin, and they should focus on the digital rupee,” said Jhunjhunwala.
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