The sector of cryptocurrencies is on crisis. The jolts in his values they have finished with a uncontrolled growth y heavy losses of recovery unlikely. In May, an algorithm triggered a panic, swept away the Luna (Terra) digital currency and crashed the market. Last week it was the turn of FTXwhich was declared in bankruptcy. It came to be valued at 32,000 million dollars and collapsed due to lack of liquidity. Now a notice of Bill Gates. It turns out that the founder of Microsoft warned months ago that the bubble was going to burst. And we ignored him.
In recent months, businessmen, investors, economists and authorities have positioned themselves against digital assets due to their volatility and the risks that their lack of regulation may entail. Among them is Gates, who not only criticized cryptocurrencies, but also warned about the technology behind them, how it is used and, above all, what purpose it has. He was talking about the ‘blockchain’, wow.
Based on finding “someone dumber”
In June, the tycoon was blunt: he said that the ‘crypto’ and the ‘Non Fungible Tokens‘ (NFT) were based on finding “someone else tonto“who lifted his shirt and reiterated the little use of these digital products.
The businessman specified your financial theoryknown as “a major fool“, he reiterated. His only objective is to find someone dumber to buy some inflated values still highest price. “I’m not into that. No [invierto] in short or long [plazo]”, he confessed.
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In addition, he highlighted another element to take into account: he was not willing to let his money end up in companies “whose anonymity is used to Evade taxes“, he claimed.
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Waste
It was not the first time that Gates criticized this sector. A year and a half ago, he also warned people that he put a lot of money into bitcoinsone of the main digital currencies in the market: “I think that people who get into these hobbies, still don’t have a lot of money to waste“, he assured.