Bill Gates Critique of Cryptocurrencies and NFTs:

The Microsoft founder said he prefers to continue investing in companies that make real products. His comments come at a time when the value of cryptocurrencies and NFTs are plummeting.

American businessman and philanthropist Bill Gates criticized on Tuesday the investment of capital in cryptocurrencies and “non-fungible tokens” (NFTs).

During a conference organized by the site specialized in technologies TechCrunch, Gates questioned the NFT Bored Apes (boring monkeys in Spanish).

It is popular monkey images with over 10,000 different designs and colors that They have been all the rage in the digital world.

Many crypto investors have paid the equivalent of up to half a million dollars for these images, although its price has dropped significantly.

The dumbest theory

“Obviously expensive digital images of monkeys are going to make the world a whole lot better. It’s amazing,” ironically the former founder of Microsoft.

Invest in this type of digital asset “they are 100% based on the dumbest theory, that someone will pay in the end”Gates argued.

In financial speculation, the dumbest theory refers to investors who make money with worthless or overvalued assets, under the idea that there will always be people willing to pay more than they are worth.

Bill Gates criticizes cryptocurrencies

Similarly, Gates assured that he does not invest in cryptocurrencies, adding that he does not agree with the anonymity of crypto investors who “It is used to evade taxes or other government rules.”

“I’m used to asset classes like a farm where they have production, or like a business where they make products,” the millionaire explained.

This isn’t the first time Gates has publicly questioned cryptocurrencies. In 2021, the tycoon said that as much as Elon Musk Yes You’re here invested in bitcoin, other investors don’t have to follow the same example.

Bitcoin, the most popular cryptocurrency in the world, it reached a historic value of $69,000 in November 2021.

Since, has steadily lost its value, arriving Tuesday at a value below $23,000. The Monkey NFT it also lost more than half of its value.

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