Bill Gates
Gerard Miller | CNBC
Bill Gates Not a fan of cryptocurrencies or non-fungible tokens.
speaking in techcrunch talk Tuesday, Billionaires on Climate Change Microsoft The co-founder described the phenomenon as “100% based on the greater-than-fool principle”, referring to the idea that the price of a higher-value asset would rise when there were enough investors willing to pay more for them. Will go
Gates joked that “expensive digital images of monkeys” would “make the world vastly better,” referring to the much-hyped bored ape Yacht Club NFT collection.
NFTs are tokens that cannot be exchanged for each other. they often called As a way of proving ownership of digital assets such as art or sports collectibles. But critics see him as exaggerated And given the power-hungry nature of cryptocurrencies, it is potentially harmful to the environment. Many NFTs are built on the back network ethereumSecond largest token.
“I’m used to asset classes … like a farm where they’re produced, or like a company where they make products,” Gates said.
As for crypto, “I’m not involved,” Gates said. “I’m not tall or short of any of those things.”
The cryptocurrency fell sharply this week after crypto lending firm Celsius. Withdrawals from all accounts stopped, The debacle has fueled fears of an impending bankruptcy event for Celsius – and potential knock effect to other parts of the crypto market. For its part, Celsius says it is “working round the clock for our community.”
The battered crypto world was already licking its wounds following the collapse of UST – a so-called “stablecoin” valued at $1 – and Luna, its sister token. At their peak, the combined value of both cryptocurrencies was $60 billion.
Bitcoin It was trading at $21,107 on Wednesday, down 7% in the last 24 hours. The world’s largest cryptocurrency has wiped out more than half of its value since the start of 2022.