Bill Gates: I don't own Bitcoin, I am neutral about it

Microsoft founder Bill Gates said on Thursday that he now does not own Bitcoin and has become neutral on the cryptocurrency.

He expressed his views on cryptocurrencies in an interview with CNBC, predicting that the future of payments lies in digital currencies while expressing his "neutral view" on Bitcoin, the largest cryptocurrency by market capitalization.

Previously in 2018, Gates said he would short Bitcoin if "there was an easy way to do it." At the time, he also said that he had received a Bitcoin as a birthday gift, but resold it shortly afterwards.

In an interview on Thursday, he mentioned, “I don’t own Bitcoin, and I’m not bearish on Bitcoin. I’m already neutral on Bitcoin.”

Still, he believes that digital forms of money need to achieve reversibility and full transparency of transactions. He noted that the Gates Foundation is actively exploring new payment methods in developing countries, which can also reduce transaction costs, "and is not for tax evasion or any illegal activities."

In December 2018, Gates said that cryptocurrencies can empower the poor, especially those in developing regions of the world, by helping them access the necessary financial tools to utilize the various resources at their disposal.

“Digital can reduce the cost of a range of transactions by as much as 90%, providing near-universal access to innovative financial products and services,” he said at the time.

As for the price of Bitcoin, Gates said that depending on the current level of enthusiasm, the price of Bitcoin may rise or fall, and he cannot predict whether Bitcoin will continue to soar.

In March 2020, Microsoft also applied for a patent for a new cryptocurrency system that would use human activity for mining. The patent describes the envisioned cryptographic system as an alternative to Bitcoin that would monitor body activity as a consensus mechanism to verify transactions and mint new coins.

Image source: Twitter, Deadline

AuthorLiang Che

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