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Bill Gates slams crypto investments, calling them shams

Published

4 years ago

June 15, 2022

Billionaire Bill Gates is dismissing crypto projects as shams “based on the greater-fool theory”

The 66-year-old was speaking at a climate conference, where he was pushing for engineers in Silicon Valley to work in steel production to help lower greenhouse gas emissions.

Gates hasn’t shied away from his views on digital assets. Last year, he sparred with Tesla CEO Elon Musk over whether Bitcoin is too risky for retail investors.

He is also concerned about the environmental impacts of mining coins.

It’s reported the billionaire said “expensive digital images of monkeys are going to improve the world,” in a sarcastic tone while speaking at the event.

Gates has supported digital banking efforts, which he describes as “hundreds of times more efficient” than crypto.

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.