Gates Reiterates Skepticism Towards Cryptocurrency as Investment

Microsoft co-founder Bill Gates has reiterated his skepticism towards investing in cryptocurrency, calling it a 'pure mania-driven asset.'

Gates was asked about diversifying away from the U.S. dollar and mentioned gold, the euro, Chinese yuan, and cryptocurrency as options.

However, he stated that he would not choose crypto, instead preferring to own a globally diversified basket of stocks.

The main reason for Gates' reluctance is that cryptocurrency does not produce any tangible assets or revenue, unlike traditional investments in companies like Apple or ExxonMobil.

Gates has been making this argument for years, dating back to 2018 when he described Bitcoin as a 'greater fool theory' investment.