Billionaire Bill Gates has described himself as being “neutral” regarding bitcoin but understands the value of lowering transaction fees.
It is our primary aim to minimize fees and improve accountability rather than maintain privacy, the foundation’s CEO said. He stated, “I don’t own bitcoin. I’m not short bitcoin.”
Additionally, Gates warned that owing to “mania” and the challenge in forecasting potential market action, bitcoin’s price is extremely unpredictable.
Bill Gates on Bitcoin
In May 2018, he previously announced that he would short bitcoin “if there was an easy way to do it” and claimed he had sold a bitcoin for his birthday gift, but later he changed his mind and purchased the cryptocurrency back.
Crypto fans weren’t pleased when Bill Gates made comments claiming that blockchain secrecy “led to deaths in a direct way” during a 2018 Reddit AMA.
The new influential tech personality to apparently decide to remain out of the Bitcoin acceptance controversy is Microsoft co-founder Bill Gates.
Microsoft co-founder Bill Gates reflected on Bitcoin (BTC) and offered no hints on the cryptocurrency’s potential price fluctuations during an interview with CNBC’s Squawk Box.
“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’s “Squawk Box.”
“I agree I would short it if there was an easy way to do it,” he said.
However, it appeared like the Microsoft co-founder suggested that even though there are those utilizing digital currencies for “tax avoidance or illegal activity,” developing countries could still benefit from digital currencies.
He said his philanthropy work through the Bill & Melinda Gates Foundation is centered on helping citizens transfer their money from “digital form into a more traceable and auditable format.”
Gates’ latest remarks on the privacy of crypto purchases are just as he claimed in a 2018 Reddit AMA, in which he suspected the public of utilizing cryptocurrency to purchase illicit narcotics.
Like Microsoft, Gates’ blockchain and Bitcoin thoughts are associated with his board role. Microsoft president Brad Smith recently hinted that the organization was not intending to participate in Bitcoin in the near future.
Microsoft’s Usage of Blockchain
Blockchain as a service (BaaS) is provided by the company’s cloud computing subsidiary, Azure.
A revolutionary product was recently introduced with the goal of streamlining the process for major companies to build their own digital assets with a single set of specifications (tokens).
Microsoft’s new tokenization program, like its other goods, is designed to make it possible for major companies to implement blockchain technology.
Azure Blockchain Service is a blockchain network scaling solution that allows network operators to scale blockchain networks in Azure and extend the functionality of such networks.
To build a well-functioning blockchain network and operate governance and codeless regulation of consortiums, users merely need to touch their phones a few times.
In addition, developers may use widely used programming languages and tools to build blockchain apps. When developing end-to-end solutions, Azure will include a blockchain data manager for recording, reacting to, and saving ledger data off-chain.
