Microsoft founder Bill Gates has issued a warning to would-be Bitcoin (BTC) buyers looking to follow Elon Musk\u2019s investment strategy. Speaking to Bloomberg\u2019s Emily Chang, Gates suggested Musk had access to sophisticated trade management techniques that the average investor isn\u2019t privy to. <\/p>\n
When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet (undoubtedly a reference to Elon Musk\u2019s own social media posts), Gates said Elon Musk was probably insulated from such market crashes:<\/p>\n
\u201cElon has tons of money and he\u2019s very sophisticated so, you know, I don\u2019t worry that his Bitcoin would randomly go up or down.\u201d<\/p><\/blockquote>\n
On Feb. 23, little over two weeks since Tesla\u2019s $1.5 billion acquisition of Bitcoin was announced, the price of Bitcoin fell 20% \u2014 from $58,258 to $46,624. At the same time, almost $400 billion was wiped off the global market cryptocurrency market cap.<\/p>\n
Interestingly enough, the crash occurred just hours after Musk himself expressed the opinion that the then-current prices of Bitcoin and Ether (ETH) were \u201chigh\u201d. Whether this was a criticism, or an attempt to deflect heat from a possible investigation into Musk\u2019s influence on crypto prices, the entire market plunged in the aftermath.<\/p>\n
Gates said it would be a mistake for the average investor to blindly follow the mania of optimism surrounding Musk\u2019s market moves, telling those who aren\u2019t billionaires to \u201cwatch out.\u201d He said:<\/p>\n
\u201cI do think people get drawn into these manias who may not have as much money to spare. So I\u2019m not bullish on Bitcoin, and my general thought would be: if you have less money than Elon, you should probably watch out.\u201d<\/p><\/blockquote>\n
The Microsoft founder raised the point of Bitcoin\u2019s energy consumption, suggesting that the cryptocurrency didn\u2019t return much in the way of output. <\/p>\n
\u201cThere are things we invest in in society which produce output. Bitcoin happens to use a lot of energy. It happens to promote anonymous transactions \u2014 they\u2019re not reversible transactions,\u201d said Gates.<\/p>\n
According to Gates, digital currencies aren\u2019t necessarily a bad thing, he just thinks they should be transparent, reversible, and essentially, centralized. Gates went on to describe some of the work carried out using digital currencies since the start of the COVID-19 pandemic, noting that the Gates Foundation had used the technology to enable governments to distribute relief funds to their citizens. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Microsoft founder Bill Gates has issued a<\/p>\n","protected":false},"author":3,"featured_media":113937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Microsoft founder Bill Gates has issued a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-23T09:40:54+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafoto1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNWRiZWQyOWItZmFiZi00OWM5LWJmNjctMTdjYTM5YzY3NGMyLmpwZw.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/\",\"name\":\"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-02-23T09:40:54+00:00\",\"dateModified\":\"2021-02-23T09:40:54+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/","og_locale":"en_US","og_type":"article","og_title":"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News","og_description":"Microsoft founder Bill Gates has issued a","og_url":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/","og_site_name":"Pre Coin News","article_published_time":"2021-02-23T09:40:54+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafoto1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNWRiZWQyOWItZmFiZi00OWM5LWJmNjctMTdjYTM5YzY3NGMyLmpwZw.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/","url":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/","name":"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-02-23T09:40:54+00:00","dateModified":"2021-02-23T09:40:54+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/bill-gates-warns-bitcoin-buyers-if-you-have-less-money-than-elon-musk-watch-out\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk \u2014 watch out"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/113938"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=113938"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/113938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/113937"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=113938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=113938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=113938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}