Bill Gates: Watch out for Bitcoin if you have less money than Elon Musk

TL;DR Breakdown

• Bill Gates has reiterated that he is not bullish on Bitcoin.
• He thinks people who don’t have as much money as Elon should just watch out for Bitcoin.

In a recent interview with Bloomberg, Bill Gates, the co-founder of Microsoft, one of the largest technology companies in the United States, mentioned that investors who have less money than Elon Musk should watch out for the cryptocurrency. His statement comes amid the recent rush in Bitcoin due to Tesla’s $1.5 billion Bitcoin announcement on the 8th of February. Already, Gates has made it known that he isn’t a Bitcoin fan.

Bill Gates says he’s not bullish on Bitcoin

Bloomberg’s Emily Chang spoke with Bill Gates on the 23rd of February, regarding public thoughts that the electric company, Tesla, can potentially make more profit from its Bitcoin investment, than from car sales. The Microsoft co-founder began by saying that Elon Musk has “tons of money” and he very sophisticated. So, he [Bill Gates] doesn’t worry whether Tesla’s Bitcoin investment will go up or down. 

Gates is more concerned about people who are investing in Bitcoin without any more money to spare. “My general thought would be […] if you have less money than Elon, you should probably watch out,” Bill Gates added. 

Again, he made it clear that he isn’t bullish on the cryptocurrency, although he believes digital money is a good thing. Gates dislikes the fact that Bitcoin consumes a massive amount of energy, and its transactions are anonymous and irreversible.

Gates is just ‘neutral’ on Bitcoin

Although Gates isn’t bullish on Bitcoin, he is also not shorting the cryptocurrency. He made this known in a recent interview with CNBC’s Andrew Ross Sorkin, where he said he’s neutral on Bitcoin. Microsoft is also not considering adding Bitcoin to its balance sheet, according to the president, Bradford Lee Smith.