Cryptocurrency's rise to popularity by well-respected famous people has had the average investor chomping at the bit to get their share. Every day it seems that celebrities or other famous business owners are jumping on the bandwagon of buying cryptocurrency. But, have you ever wondered if Bill Gates buys cryptocurrency?
As he has made clear from the very beginning of the rise of cryptocurrency, Bill Gates does not invest in it. This is because he has stated that he would rather put his money on something that is more tangible than digital currency.
Discovering why Bill Gates does not purchase cryptocurrency such as Bitcoin can easily be answered by doing a quick search of the internet. Keep reading to learn more about Bill Gates and his feelings toward cryptocurrency.
What Does Bill Gates Invest In?
Being the fourth richest person in the world does not come without some way to invest your may for the future. While Gates may not be a fan of crypto, he is certainly not shy when it comes to making other types of investments.
Keep in mind that many of these investments are made not just by Gates but by the Bill and Melinda Gates Foundation as a whole.
- Waste Management, Inc
- Caterpillar, Inc
- Berkshire Hathaway
- Canadian National Railway
While these are just a few of the companies that Gates and his foundation have focused on, there are many others that they are a part of. Although he is only the fourth richest person in the world, he has steered away from dropping a ton of money into the cryptocurrency craze.
Why Doesn’t Bill Gates Invest in Cryptocurrency?
Despite popular belief systems, Bill Gates does not currently own or invest in cryptocurrency of any kind. He has made his stance clear that he does not trust in the stability of something that does not have tangible value.
Cryptocurrency consumes more and more electricity than when you make investments with other means. This means that the more people invest in the digital asset, the more energy consumption is used up.
There are many reasons that Bill Gates does not own any cryptocurrency, but the one that stands out the most is the fact that digital currency is only as valuable as other people buy and sell. This is because if someone famous posts their success with crypto on their social media platform, others may take advantage of the advice and go out and buy some for themselves.
Doing this causes the cost of cryptocurrency to rise, giving truth to what Bill Gates stated about the currency being only as valuable as the people who invest in it make it. Gates has made it clear that he only invests in things that have what he perceives to be real value.
Another reason Bill Gates does not invest in cryptocurrency is because of the volatile nature of the digital asset. Bitcoin and other crypto have the tendency to ebb and flow in price which makes it less of a sound investment.(Despite the fact that his precious stocks do the same thing).
When reporters have asked Gates about his views on cryptocurrency, he has pointed out that the asset is not being regulated, he believed that crypto is too vulnerable to thieves and hackers alike. This means that everyone who is investing in it is at a higher risk of losing everything than if they invested in stocks.
Overall, Gates has criticized cryptocurrency from its inception, despite other wealthy people dropping a ton of money into it. This, however, has not been enough of a deterrent for those who want to bring in, what they think is going to be, a great return on their investment.
Bill Gates’ Advice to the Common Person About Crypto Investing
Many people over the years have often wondered about how the richest people in the world got to be so wealthy. And, better yet, they have the tendency to be curious about how they have managed to not only stay that way but grow their net worth exponentially.
While many of these wealthy business people may have different views on how to make their money work for them, they all mostly agree on one thing. They all mostly agree that investing is a personal choice and has to be done to suit the individual.
Most people know that Bill Gates has been relatively vocal about his investments including not buying into the cryptocurrency frenzy. Since he believes that in the long run, buying crypto is going to prove to be a bad choice.
But, what advice can he give to the common person about cryptocurrency investing? It is simple, Bill Gates says that if you do not have the resources that someone like Elon Musk has, you should steer clear of digital assets completely.
This is especially true for those who want to follow the pack of people that are investing in crypto because someone famous tweeted about it. Bill Gates says that you may not be happy with the results, since they are not likely to be as great as the returns Musk will have simply because he has more to invest.
Gates also warns people about investing in cryptocurrency and putting everything they have into it. This is typically a bad decision since digital assets tend to be riskier and has the potential to disappear when you least expect it.
Even though Bill Gates has warned heavily about investing in cryptocurrency, he also understands that people will do whatever it takes to make money. Because of this, when they see something is making others more money, they may make the decision to make their own purchases of cryptocurrency.
The bottom line is that when it comes to investing, you should be extremely cautious with your money and only invest in something that you feel comfortable with. This is also true for the amount of money you put into the purchase since you are unlikely to see any profits back for some time, if ever.
Here at MintDice we are committed to helping you steer clear of altcoin scams which tend to pop up in the cryptocurrency market. If you are new to cryptocurrency and looking to invest, it is best to stick with the products which have proven themselves, which to date have been Bitcoin and Ethereum. But remember, do not invest any money you don’t intend to lose.