CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,309.00
  • ethereum
    ETH$1,610.85
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Bill Gates Shares His Thoughts on Bitcoin and Digital Currencies

    Bill Gates Shares His Thoughts on Bitcoin and Digital Currencies

    Author: Jordan Lyanchev

    Last Updated Feb 18, 2021 @ 15:38

    Taking a neutral stance on bitcoin, Bill Gates said that the financial world will eventually transition into a digital form of payment methods.

    While predicting that the future of payments lies with digital currencies, Microsoft co-founder and philanthropist Bill Gates highlighted a “neutral view” on bitcoin. Nevertheless, he suggested that the digital form of money would need to enable transaction reversals and complete visibility.

    I Don’t Own Any Bitcoin, Says Gates

    The 65-year old US business magnate, author, and philanthropist seems slightly more optimistic on bitcoin now compared to a few years ago. During the year-long bear market in 2018, Gates said that he would be short on BTC if “there was an easy way to do it.”

    Furthermore, he was given one bitcoin as a birthday gift years prior, but he quickly disposed of it. Despite saying that he still doesn’t own any BTC now, though, he has taken a more “neutral” approach towards the asset, as he revealed in a more recent CNBC interview.

    “I don’t own bitcoin. I’m not short bitcoin; I’ve taken a neutral view.”

    Nevertheless, he believes that digital currencies will eventually become the main form of payment methods. He noted that the Gates Foundation is actively exploring such payment options that could also decrease transaction costs. However, according to Gates, there’re several vital differences between BTC and the digital form of payments they are using:

    “But there we do it so that you can reverse transactions, so you have total visibility of who’s doing what, so it’s not about tax avoidance or illegal activity.”

    As far as BTC’s price goes, Gates said that it could go up or down based on the current mania, but he has no way of predicting whether it will continue surging.

    ADVERTISEMENT
    Bill Gates. Source: Deadline
    Bill Gates. Source: Deadline

    Is That What BTC Is All About?

    Although Gates didn’t precisely assert that BTC is used only for illicit activities now, he has previously claimed that cryptocurrencies harm people’s lives in a “fairly direct way” as they enable bad actors to transact somewhat anonymously on the black markets.

    He had a point that Bitcoin transactions do not allow reversals due to the unique way the BTC network works. However, the Bitcoin blockchain allows precisely what the Gates Foundation’s digital currency aims for – total visibility.

    All transactions are registered and shown on the blockchain. This has enabled authorities to track illegal activities and catch bad actors in the past.

    And, while BTC has indeed seen some usage in illicit transactions, so has cash and even the heavily-regulated banking organizations. Leaked documents from FinCEN revealed last year that some of the world’s largest banks had laundered trillions of dollars for Ponzi schemes, terrorist organizations, and blatant scams for years.

    Featured Image Courtesy of Time

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • MicroStrategy Wants to Offer $400 Million in Convertible Notes to Buy More Bitcoin
    • imf_cover
      IMF Poll: Digital Currencies Are Real Money
    • blockstream_cover
      Blockstream Buys $25 Million Worth of MicroBT Bitcoin Mining Hardware
    Tags: Bitcoin
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$23,309.00
  • ethereum
    ETH$1,610.85
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    13 Biggest Crypto Scandals and Controversial Stories of 2022

    13 Biggest Crypto Scandals and Controversial Stories of 2022

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!