Bill Gates says cryptocurrency based on 'greater fool theory'

The man prefers old fashioned investing. 💵

Gates also revealed that he was more of an old-fashioned investor and preferred to put his investments in asset classes like a farm that has output or a company that makes products. Last month, we reported that while the world's richest billionaires have lost a combined $115 billion, Gates'swere comparatively lower. After quitting a day-to-day role at Microsoft, Gates has diversified his investment largely through Warren Buffett's Berkshire Hathaway holdings.

Incidentally, earlier in May, Buffett vocalized his disapproval of cryptocurrencies when he told investors at his company's annual general meeting that heThe recent high volatility of cryptocurrencies has once again raised questions over cryptocurrency as an investment avenue. While banks like JP Morgan are backing Bitcoin to yet again bounce back, another interest hike announced by the U.S.

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