People who buy NFTs are crazy (according to Bill Gates)

The Microsoft boss is obviously not a huge fan of non-fungible tokens.

If they are currently at the bottom of the wave, NFTs had their heyday a few months ago. Virtual works of art registered on the blockchain have been snapped up at exorbitant prices, and if scams are on the rise on social networks, they are still an important market.

However, they are far from unanimous. While European Central Bank President Christine Lagarde recently believed that cryptocurrencies do not “they weren’t worth anything“, It is the turn of another big name in technology to take a stand. At 66, even billionaire and Microsoft boss Bill Gates looks like, very critical of the blockchain, and more specifically NFT. Regarding the Bored Ape Yacht Club in particular, she joked: “It goes without saying that expensive digital monkey images will improve the world in a big way.“.

During a question and answer session organized by TechCrunch, the GAFAM guru explained that being quite accustomed to the production and sale of products, the NFTs were “100% based on a bigger idiotic theory“(GreaterFool in English). For the billionaire the only way to make money with a non-fungible token is to find a person “rather stupid”To buy it back for more than its initial value. The concept is not new, as it is reminiscent of the speculative art market. However, note that unlike an NFT, a table cannot be stolen via a simple phishing email.

Bill Gates doesn’t want to hear about cryptocurrencies

During his interview, the Microsoft boss made it clear that it wasn’t involved in any cryptocurrency investmentand that it did not intend to enter the market “neither short nor long term“. Already in 2018 the entrepreneur had criticized this new market, accusing it of killing people “quite directly“. At the time it referred to the anonymous use of non-legal currencies in illegal and criminal activities. Faced with the success of bitcoin in some developing countries, Bill Gates had also warned against the volatility of the currency, which risked reinforcing the latent financial instability.

Leave a Comment