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.
