The Microsoft owner is not consistent about his opinion on Bitcoin and Cryptocurrencies.
The opinion of this great entrepreneur keeps on changing over time. This aspect of frequent changes in the statement is quite natural in to incase of Cryptocurrency trading. One thing that remains constant about Cryptocurrency from the standpoint of Bill Gates is the Blockchain Technology application.
Different Opinion of Bill Gates on Bitcoin in Cryptocurrencies
Over time, the opinion of Bill Gates changes over Bitcoin and other Cryptocurrencies. Let’s explore the different views of one person on Cryptocurrency in this article.
1. Cryptocurrency Causing Deaths at A Fair Means
Bill Gates initially had the opinion that Cryptocurrency is an anonymous form of currency. There is no regulating authority that can control the Bitcoin transactions over the network. Cryptocurrency is growing in popularity along with it; unscrupulous elements of society are using it in an unfair means.
Many Crypto traders are not aware that they are causing deaths to millions of people directly as there are no regulations in Cryptocurrencies’ transactions. Untraceable Cryptocurrencies are now causing many deaths as drug dealers, terrorist organizations, and other antisocial people are now using them.
In Bill Gates’s opinion, it has become quite clear that Gates is pessimistic about cryptocurrency’s, and he is not very sure of the outcomes and the hazards it may cause in the world economy in the future.
2. Cryptocurrencies Are Anonymous
According to Bill Gates, Cryptocurrencies are the anonymous form of currencies. He also said that the chances of tax evasion, money laundering, terrorist funding could be increased due to the maximum usage of the Cryptocurrency.
The usage of Bitcoin and other high-value Cryptocurrencies can lead to money misuse if not appropriately regulated. Due to the lack of monitoring of Cryptocurrency, the chances of death are increasing in many countries. People are not habituated to digital transactions of vast amounts of money, so the chances of cyber issues may also increase.
Bill Gates is also of the opinion that it is super risky to invest your money in Bitcoin or other Cryptocurrencies right now. The security issues are more, and the safety measures are less in it. You can go through https://ethereum-code.me to get more insight into his opinion on Bitcoin and Cryptocurrencies.
3. Digital Currencies Can Empower the Poorest
Bill Gates also said that Cryptocurrency transactions are now like get the rich quick scheme. The price of many high-value currencies like Bitcoins, Ethereum is increasing at a rapid pace. It is giving birth to many billionaires all over the world. The scope of the earning capacity is also relatively high.
He mentioned that 2.5 billion people worldwide lack access to financial services. You need to be well aware of the fact that the application of digital currency can reduce the poverty rate in the world with ease.
Here, we notice that the same person has a difference in Cryptocurrencies and Bitcoins’ opinion over time. You need to compare the difference of opinion of Bill Gates. It is quite natural as, with time, the value of many Cryptocurrencies is performing well in the market.
Why Is Bill Gates Changing His Opinion About Cryptocurrency?
The value of Cryptocurrencies like Bitcoin is changing all the time, and currently, its value is on the higher side. Bitcoin prices are now touching the sky, and in 2014 -2015 Bitcoin value is very fluctuating. But now it is reflecting steady growth. It is the reason why Bill Gates is changing his opinion frequently on Cryptocurrency.
Conclusion
Hence, from the above discussion, it has become clear that Bill Gates is not consistent in Cryptocurrency’s opinion. Like the volatility rate of Cryptocurrency, the opinion of Bill gates is also volatile. It also gets fluctuated all the time. If you want to believe him, then you can but before that, consider the market fluctuations.