Bill Gates Explains Why He Didn’t Buy Bitcoin

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Microsoft founder Bill Gates spoke about Bitcoin at an event held at the Clubhouse. Saying that it takes a lot of electricity to make just one transaction with Bitcoin, Gates talked about why he does not buy Bitcoin.

Bill Gates spoke to Andrew Ross Sorkin from the Squawk Box program on CNBC on February 25. Gates called out to Bitcoin investors this week and said, “If you’re not as rich as Elon Musk, be careful.” he said.

“I invest in companies that produce something”

Focusing on the relationship between Bitcoin and the environment, Gates said, “Bitcoin spends more electricity to make a single transaction than any other method human beings have ever seen.” found in the description. Gates said the electricity problem could be solved if Bitcoin miners switch to renewable energy.

Gates has said he has a neutral attitude towards Bitcoin. “I did not choose to invest in Bitcoin,” the Microsoft founder talked about the fact that he has not invested in Bitcoin until now. I’m getting a malaria vaccine. I’m getting the measles vaccine. I invest in companies that produce something. ” said.

It takes a different path than Bitcoin

Bill Gates stated that the Gates Foundation’s digital money efforts are much different from Bitcoin. Unlike Bitcoin, transactions in this digital currency network can be undone and cannot be used for purposes such as ransom.

Gates said that trading with digital currency can be less costly, so more people can transact this way.

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