Bill Gates says not keen about Bitcoin

Microsoft founder, Bill Gates, has said that he would rather invest in companies “that make products” instead of Bitcoin.

The ex-Microsoft chief who disclosed his stance about the world’s most popular cryptocurrency, Bitcoin, in a live chat on the social network Clubhouse, said he has not invested in Bitcoin, according to a BBC report on Thursday.

Mr Gates in the interview was stated to have said that he preferred to invest in companies “that make products”, while citing malaria and measles vaccines as examples.

He stated that he did not choose his investments on the basis of whether they would be worth more to others.

In an earlier interview with Bloomberg, he had spoken about Elon Musk’s enthusiasm for the virtual currency.

“My general thought would be that if you have less money than Elon, you should probably watch out,” he said.

“Elon has tonnes of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down.”

This is coming amidst the wide adoption of the digital currency by high-profile individuals and businesses, including Musk’s Tesla.

Central banks across the world are still seeking ways of regulating the cryptocurrency market space to curb illicit transactions.

The decade-old currency which experienced an all-time low of $65.53 in July 5, 2013, eight years ago, has seen a 69740 per cent rise, according to data posted on coinmarketcap.com.

As at 9.55 AM Nigerian time on Friday, data posted on coinmarketcap showed the digital currency sold at $45,629.05 per BTC.

It has witnessed a slump of 9.44 per cent in the last 24 hours, 14.28 per cent increase in trading volumes and 21.55 per cent fall in price after hitting an all-time high of $58,331 on February 21, five days ago.