Gates Reaffirms Skepticism Towards Crypto: 'Pure Mania-Driven Asset'

Bill Gates has expressed his skepticism towards cryptocurrencies again, stating that he would not use them to diversify away from the dollar. In an interview, Gates was asked what asset he would choose if forced to move a small part of his portfolio out of the dollar. He replied, 'I wouldn't choose crypto,' adding that he's a well-known skeptic of 'pure mania-driven assets.'

Gates also expressed his views on other assets, saying he had missed the gold rally and predicting that the euro would not rise significantly. He advised diversifying into a globally balanced basket of equities instead.

This is not the first time Gates has spoken out against cryptocurrencies. In 2018, he described Bitcoin as a 'pure greater fool theory' type of investment, and he's stated in the past that he wouldn't invest in it if given the opportunity.