Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Wed, 15 Jun 2022 12:56 PM IST
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Microsoft co-founder Bill Gates has outright rejected any cryptocurrency projects such as nonfungible tokens (NFTs). During a program, it has been termed as a fake thing based on the theory of fooling. Significantly, Gates has not been in favor of cryptocurrencies in the past and has been calling it a big threat.
During the program, Bill Gates said that the world is going to improve with expensive pictures of monkeys. But these are neither long nor short term asset classes. Last year too, Gates was in the news for cryptocurrency. He also had a debate with Elon Musk about this, which became headlines. Gates had called crypto mining extremely harmful to the environment.
Gates’s statement about cryptocurrencies comes at a time when investors have suffered huge losses due to the strong fall in popular cryptocurrencies such as bitcoin and ethereum in the past. It is worth noting that on Monday, bitcoin was down 15 percent and last trading session was down 10 percent on Tuesday.