Billionaire Microsoft co-founder Bill Gates has dismissed investments in cryptocurrencies and NFT'ler, arguing that the digital assets market is largely driven by speculation.
“As an asset class, it’s 100% based on the greater fool theory—that somebody’s going to pay more for it than I do,” Gates said during the TechCrunch Sessions: Climate 2022 Salı günü konferans.
The greater fool theory refers to the idea that one can make money by investing into overvalued assets and selling them for a profit later, because there will always be someone else who will come along and pay a higher price.
Gates also hit out at people willing to spend huge amounts of money on NFTs, casting doubt on their true value as an investment.
“Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically, in a reference to the popular Fored Ape Yat Kulübü (BAYC) NFT collection that attracted billions of dollars and ünlü onayları.
Amid the ongoing crypto crash, the floor price of Bored Ape Yacht Club NFTs dropped $ 100,000 altında for the first time in almost a year yesterday, from an tüm zamanların en yüksek seviyesi yaklaşık 429,000 dolar (152 ETH) on April 29. Currently, the floor price for the collection sits at around $83,000 (76 ETH), according to NFT Fiyat Tabanı.
Watching from the outside
Bu arada, Bitcoin fiyatı, the industry’s largest cryptocurrency, fell to sadece $ 20,000 üzerinde on Wednesday, posting a loss of more than 55% since the start of the year.
While many investors are understandably jittery over the latest events in the market, Gates stressed that he’s not involved in cryptocurrencies in any way.
“I’m not long or short any of those things,” said the billionaire entrepreneur.
This is not the first time the Microsoft co-founder has weighed in on cryptocurrencies.
Geçen ay, bir Bana Her Şeyi Sor oturumu on Reddit, Gates said he doesn’t own any crypto because he prefers investing in “things that have valuable output.”
The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments,” he said at the time.
In February 2021, the philanthropist once again said he didn’t own any Bitcoin as—unable to predict how the markets will behave—he chose to take “a neutral view” on crypto.
Bir kripto uzmanı olmak ister misiniz? Decrypt'in en iyi özelliklerini doğrudan gelen kutunuza alın.
En büyük kripto haberlerini + haftalık özetleri ve daha fazlasını alın!
Source: https://decrypt.co/102973/bill-gates-crypto-and-nfts-100-based-on-greater-fool-theory