Bill Gates is not a fan of cryptocurrencies or non-fungible tokens.
Speaking at a TechCrunch talk on climate change Tuesday, the billionaire Microsoft co-founder described the phenomenon as something that’s “100% based on greater fool theory,” referring to the idea that overvalued assets will go up in price when there are enough investors willing to pay more for them.
Gates joked that “expensive digital images of monkeys” would “improve the world immensely,” referring to the much-hyped Bored Ape Yacht Club NFT collection.
Not a fan of Gates but he is likely right on this one. To me NFT’s were a sick joke from the word go. Digital currency may yet work out the kinks but for now I have to agree with Gates.
