World-known billionaire Bill Gates is known for his heavy skepticism towards Bitcoin. He even goes as far as willing to bet against the cryptocurrency, claiming that digital currencies are a worthless investment people benefit from by depositing their holdings off to the fools bigger than themselves.
Gates told that he would not hesitate to short Bitcoin if there were an easy way to do so. He is jumping on the same bandwagon as Warren Buffet and Charlie Munger, claiming that Bitcoin as an asset class is not producing anything; therefore it cannot be expected to go up in price. This type of investment only supports the greater fool theory, Gates believes.
The three tycoons have assembled over the weekend, being the Berkshire Hathaway board members, which had its early stakeholder meeting on 5 May. As we have already reported, on that meeting, Warren Buffet bashed Bitcoin once more, and like the other digital currency bullies, Bill Gates accepted that blockchain technology itself can be useful, but cryptocurrencies are just speculative investments and nothing more.
Despite the fact that Gates is openly opposing Bitcoin, de facto he does literally nothing to counteract it, for example, by opening a short position in Bitcoin futures on CBOE or CME. His inaction speaks much louder than his words do.