Bill Gates warns against Bitcoin investment

The third-richest person in the world, Bill Gates, isn't a major fan of the Bitcoin boom, possibly because of the environment.

The co-founder of Microsoft warned big investment firms to reinvent investments in crypto space if they're so rich as tech maverick, Elon Musk, in a conversation with Bloomberg on Monday.


In a thorough discussion of his point of view, Gates said, "Elon is very sophisticated with tons of money," adding that he is worried more about people who "enter into such manias" who have not much money to spare.

While Bill Gates terms "digital money as good," he described further that Bitcoin is not an ideal place to do business because of its energy use at the expense of the environment.


Just last week, in an interview with CNBC Gates, Bill Gates showed a 'neutral' position on Bitcoin and understood its role in cutting the transaction costs of millions.

Gates praised Elon Musk as one of the most significant contributions ever made to the evolving climate in his New York Times podcast besides being vague about the prospects of cryptocurrency.

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