Gates Doubles Down on Cryptocurrency Skepticism: Stocks Remain Top Choice
Bill Gates, co-founder of Microsoft and billionaire investor, has once again expressed his skepticism towards cryptocurrencies. In an interview, he stated that if he had to diversify beyond the US dollar, he would not choose cryptocurrency. He described himself as a skeptic of assets 'purely driven by mania.'
Gates also took a cautious view on gold, admitting that he 'missed that one.' Gold has been among the strongest performers among traditional safe-haven assets, but spot gold prices fell to a two-week low after Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole conference.
In contrast to his views on cryptocurrencies and gold, Gates recommends investing in a globally diversified stock portfolio. He stated that 'generally a basket of stocks is the best long-term investment, and ideally a globally balanced basket of stocks.'