Greater fool theory

The tech billionaire said he's "not involved" in crypto: "I'm not long or short any of those things."

As for crypto, "I'm not involved in that," Gates added. Bitcoin was last trading at $21,107 on Wednesday, down 7% in the last 24 hours. For its part, Celsius says it's "working around the clock for our community."

Billionaire Microsoft co-founder Bill Gates has dismissed investments in cryptocurrencies and NFTs, arguing that the digital assets market is largely driven ...

The value of companies is based on how they make great products. Amid the ongoing crypto crash, the floor price of Bored Ape Yacht Club NFTs dropped below $100,000 for the first time in almost a year yesterday, from an all-time high of nearly $429,000 (152 ETH) on April 29. This is not the first time the Microsoft co-founder has weighed in on cryptocurrencies.

The greater fool theory argues that prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are ...

The sector has now seen more than $2 trillion in losses since its November 2021 peak. Cryptocurrencies are entering the deepest phase of a bear cycle. Having an asset class that is 100 percent based on sort of greater fool theory that somebody is going to pay more for than I do," he added.

At a TechCrunch event, Bill Gates says NFTs are based on "greater fool theory," continuing the billionaire's criticism of Bitcoin and cryptocurrency.

In early 2021, Gates voiced hesitation about regular investors shelling out fortunes for Bitcoin. "I do think people get bought into these manias who may not have as much money to spare," said Gates in a 2021 interview. When it comes to investing, the Microsoft co-founder still believes in the value of putting money towards assets with tangibility, "like a farm where they have output, or like a company where they make products," further reiterating his disbelief in the inherent value of digital assets. The tech billionaire dismissed digital assets — particularly NFTs — as " 100% based on greater fool theory" while speaking at a climate conference hosted by TechCrunch on Tuesday. In essence: the assets will only go up in price so long as enough investors are willing to pay more for them, making the assets void of any real value when investors aren't present.

MSFT 2.97% co-founder Bill Gates said he thinks cryptocurrencies and NFTs are “100%” based on the greater fool theory. The 66-year-old billionaire was referring to the notion that overvalued assets will keep going up because there are enough people ...

- JCPenney:JCPenney Biggest Sale of the Season - Up to 65% off 1,000s of deals The 66-year-old billionaire was referring to the notion that overvalued assets will keep going up because there are enough people willing to pay high prices for them. You may cancel your subscription at anytime by calling Customer Service.

The Microsoft founder sowed doubt regarding the future and social value of the digital asset class of the moment.

“But the one thing I’m pretty sure of is that it doesn’t produce anything.” Gates objected to the lack of social value offered by NFTs, in an obvious dig at bestselling NFT collection Bored Ape: “Obviously, expensive digital images of monkeys are going to improve the world immensely”. The Microsoft founder sowed doubt regarding the future and social value of the digital asset class of the moment.

Microsoft co-founder Bill Gates says crypto is an asset class that is 100% based on the Greater Fool Theory.

Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. “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.” “I like investing in things that have valuable output,” the billionaire explained.

Microsoft co-founder Bill Gates said Tuesday during a TechCrunch talk that he's "not involved" in cryptocurrency or non-fungible tokens, and he doesn't see ...

Gates said he's "not involved" in cryptocurrency and NFTs, "I’m not long or short any of those things.” Driving the news: Both are "100% based on the greater fool theory that somebody's gonna pay more for it than I do," Gates said. Microsoft co-founder Bill Gates said Tuesday during a TechCrunch talk that he's "not involved" in cryptocurrency or non-fungible tokens, and he doesn't see value in either of them.

The Microsoft co-founder said that people bought cryptocurrencies and NFTs based on the idea that, no matter its price, it could be sold for higher because ...

- Saks Fifth Avenue:$20 off sitewide + free shipping - Saks Fifth Avenue coupon You may cancel your subscription at anytime by calling Customer Service. The 66-year-old billionaire was referring to the notion that overvalued assets will keep going up because there are enough people willing to pay high prices for them.

San Francisco– Tech billionaire Bill Gates has said that he holds no position in cryptocurrencies or non-fungible tokens (NFTs), as they are “100 per cent ...

Some of the biggest projects, like the Bored Ape Yacht Club, have more than halved in value. “I do think people get bought into these manias who may not have as much money to spare,” Gates had said. “I’m not involved in that.