Bill Gates Won't Pick Crypto to Diversify Away From the Dollar, Calls It 'Pure Mania-Driven Asset' — Here

Microsoft Corp. (NASDAQ:MSFT) co-founder Bill Gates said in an interview on Friday that he would never use cryptocurrencies to diversify away from the dollar.

‘Mania-Driven Asset’

During an interview with APT News, Gates was asked if he were “forced” to move a small part of his portfolio out of the dollar, what would he choose: the euro, the Chinese yuan, gold, or cryptocurrency

The tech tzar was quick to reply, “I wouldn’t choose crypto,” adding that he’s a well-known skeptic of “pure mania-driven assets.”

If Not Crypto, Then What?

Turning to other assets, Gates said he had missed the gold rally and predicted that the euro would not rise significantly.

“I think a basket of equities in general is your best long-term. Ideally, a globally balanced basket of equities,” stated Gates, who was the world’s richest individual for many years.

Gates Remains Unconvinced

Gates’ skepticism about cryptocurrencies goes a long way.

During an interview in 2018, he described Bitcoin (CRYPTO: BTC) as a kind of pure “greater fool theory” type of investment

Gates said he would bet against the cryptocurrency if given the opportunity.

Later in May 2022, he revealed that he doesn’t hold any cryptocurrencies and that he prefers things with “valuable output.”

When Gates made this remark, Bitcoin was priced at $30,314.33 apiece. Today, its price has swelled to $78,060, representing an upside of 157%.

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