Basically, we’re all poor
Bill Gates has issued a warning to the world about Elon Musk, urging people to think properly before investing in cryptocurrencies.
While a battle of the billionaires sounds interesting by concept, the reality is actually a lot nerdier than initially thought. There’s no Hunger Games-style arena nor Mortal Kombat level fighting – instead, the Microsoft creator has reminded us of Musk’s indomitable wealth.
The 50-year-old SpaceX founder has been a stringent supporter of cryptocurrencies for almost as long as they have been around, which in all fairness isn’t that long. With the highest net-worth of anyone on the planet, currently totalling $229.1bn USD, Gates argues that Musk can afford to gamble with his coin.
Speaking to Bloomberg Technology, Gates was questioned on whether Musk could make more money investing in Bitcoin than Tesla makes.
He replied: “Elon has tons of money and he’s very sophisticated so I don’t worry that his Bitcoin will randomly go up or down.
“I do think people get brought into these manias who may not have as much money to spare so I’m not bullish on Bitcoin.
“My thought would be if you have less money than Elon, watch out.”
#Bitcoin 💔 pic.twitter.com/lNnEfMdtJf
— Elon Musk (@elonmusk) June 4, 2021
Musk has demonstrated a wild control of the cryptocurrency market, with mere tweets skyrocketing or crashing the value of the de-centralised currency. In May of 2021, Musk tweeted that Tesla would no longer be accepting Bitcoin due to environmental concerns – and Bitcoin’s value then dropped by 15 per cent.
Later in June, Musk said Tesla would again accept Bitcoin, which drove up the price by eight per cent.
Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.
— Elon Musk (@elonmusk) May 24, 2021
Related links:
- Teen demanding $50k from Musk is now targeting more billionaire jets
- Elon Musk and Jeff Bezos lose billions as tech stocks and crypto plummet
- Elon Musk’s SpaceX rocket is on course to crash into moon and explode
