The Truth about Bill Gates and Bitcoin

in #australia6 years ago (edited)

Why does Bill Gates hate on Bitcoin? He has a history of making statements that he would short sell the booming cryptocurrency if he could. You might think that the man who changed the world with tech would love the idea of cryptocurrency. But the thing a lot of people don’t know about Bill Gates is that he is a close personal friend of Warren Buffett, a man who has also been making headlines for hating on Bitcoin.

Bill Gates didn't become the world’s richest man all by himself or even just though Microsoft, he has been a substantial investor in Warren Buffett’s investment company Berkshire Hathaways for many years. BH is one of the best preforming investment fund in the world. Investing in BH he would have earnt a return of around 20%pa, which is extremely high in the non-crypto world. So, old mate Buffett is hating on Bitcoin and old mate Bill has been making insane amounts of money from him, well then what would you expect him to say.

One of Buffett’s rules has been to invest in businesses that he knows and understands, and that has worked out very well for him. I do respect Buffett’s opinions, but this rule has meant that in the past he has missed out on investment opportunities in both Amazon and Google. Buffett has admitted that he doesn’t really understand Bitcoin or cryptocurrencies.

So, are Bitcoin and crypto investments to be avoid? Well maybe, but not because of what Buffett or Bill have to say. I personally won’t be putting as much weight on the opinions of those who either don’t understand the technology or have other financial interests.

You think bitcoin has had massive gains well check out Berkshire Hathaways chart.
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For all we know they could be buying up while jawboning bitcoin. These guys need to first understand it before they dismiss it.

yeah they probably are screwing with us haha. who knows tho

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