Will statement by Bill Gates about cryptocurrencies be the next cause of Bitcoin downfall?
According to Bill Gates cryptos have caused deaths and are super risky. It seems that first two months of the year 2018 was not lucky for cryptocurrencies. However, finally things were again on the track retaking the $10,000 mark. Cryptos had started gaining their value and bitcoin was trading approximately $10,950 as time of writing. In a nutshell, everything was going perfectly fine. Bitcoin was thriving all over again until someone asked Bill Gates “What’s your opinion on Crypto Currencies?”
Yeah, would you believe that the answer to this question by Bill Gates could be cause of another round-up of cryptos’ downfall? well apparently yes.
Microsoft’s co-founder and the world’s 2nd richest person Bill Gates took part in the all-time much loved session “Ask Me Anything” of the world’s most authentic debate and discussion community Reddit, with a title, “I’m Bill Gates, co-chair of the Bill & Melinda Gates Foundation. Ask Me Anything.”
On this platform, when a person asked him about the “Whats your opinion on Crypto Currencies?”Well, the answer was much negative. He says,
Despite the fact that the Bill and Melinda Gates Foundation has partnered with Ripple to deal with poverty, Gates’ answer to the question was a straight hit on Bitcoin when he said that “the main feature of crypto currencies is their anonymity. I don’t think this is a good thing.” He further added,
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“Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long.”
On the other hand, Bill Gates believes that the governments’ aptitude to trail money laundering, tax evasion and terrorist funding is a good thing.
However, after this negative declaration by one of the big names on the planet, some expert from this area and Twitter users started talking about the impact of statements.
People were comparing this case with Snapchat, as Jenner tweeted negatively about Snapchat and they lost $1.5 billion. So, just imagine when Bill Gates talks about crypto and he talks about negative things. Anything could be happen?
In the meantime, the thought that old and rich do not know about the cryptocurrencies and even don’t want to be familiar with, was also cited in reactions of some Twitter users.
It is important to mention here that Gates is not the foremost big name to speak out in opposition to the tentative assets. Warren Buffett (close friend of Bill Gates) also expected a disappointing results “I can say with almost certainty that they will come to a bad ending” last month when he talked about cryptocencies.
