Along with the price increase, interest in the world's сryptocurrency No 1 is growing again. Bitcoin is on the rise which means it is time to return to the main news topics. The founder of Microsoft, Bill Gates, shared his opinion about the current situation and the future of the cryptocurrency.
We will upset the fans of bitcoin. If several years ago Gates called it “a revolutionary technology and the most innovative solution in the modern Internet payment market”, then now he thinks quite differently. “As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said. For those who do not know, the main and only principle of this theory is that there is always a bigger fool than you which means that almost any asset can be resold with profit. But even fools come to an end, and as a result, such speculative bubbles burst. Bill Gates added that he “would shorten bitcoin if there was an easy way to do it.” “Bitcoin and ICOs are some of the crazier, speculative things,” Gates noted adding that the blockchain technology itself certainly has undeniable advantages.
It is worth pondering, because it was said by a man whose company was one of the first to accept cryptocurrency for payment. “Bitcoin is exciting because it shows how cheap transactions can be," Bill Gates told Bloomberg in October 2014. “Bitcoin is better than currency in that you don't have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” This proves once again that nothing lasts forever, even the love of the computer genius to bitcoin!
