Bill Gates Feels Like Shorting Bitcoin If It Was Easy

Revenge of the Electric Car premiere Tesla Motors CEO Elon Musk on red carpet

At the same time, Bill Gates criticized Initial Coin Offerings (ICOs) saying that they are insane and 'speculative things.' ICOs allow start-ups and enterprises to crowd-fund their projects by issuing tokens.

His tweet also tagged Berkshire Hathaway Warren Buffett, who - along with Gates, who sits on the company's board of directors - was in Omaha, Nebraska for the firm's annual shareholders meeting. He said: "As a class of asset, you aren't producing anything so you should not just expect it to go up".

He followed that up on Monday, adding that "the asset itself is creating nothing" and that "when you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along".

Speaking with CNBC, the Microsoft co-founder and prolific philanthropist said that he wished there was an easy way to short bitcoin so that he could take advantage of the opportunity.

Berkshire vice chairman Charlie Munger said to Buffett during the meeting, "I like cryptocurrencies a lot less than you do". He went on to advise investors to invest in the stock market rather than gambling with Bitcoins or any other cryptocurrency. "People like to speculate, they like to gamble".

He classified this kind of investment as a "greater fool theory" investment.

When asked if he owned any Bitcoin, Gates said that someone had given him some for his birthday. It traded as high as $20,000 in 2017.

While it looks like Bill Gates is exclusively anti-cryptocurrency here, he did acknowledge the fact that the blockchain technology behind digital currencies has some value. However, Warren Buffett believes the entire space is one big sham and not worth all the hype.

He has previously referred to bitcoin as a bubble and not an investment. The old-school duo called Bitcoin "rat poison" and "turd" earlier during the event. While both Buffett and Munger have been consistent in their criticism of bitcoin, Gates' recent comment shows a change in his opinion on the cryptocurrency.

Related news:

Hot News

isis-killer-beheading-video-story-top Destiny 2's Warmind Expansion Drops Tomorrow
May 09, 2018 - 00:43
Bungie released the Destiny 2: Warmind expansion to the PlayStation 4 , Xbox One , and PC Tuesday and update 1.2.0 along with it. Both the max level and max light level caps have increased for Destiny 2 , at least if you own the Warmind expansion.

isis-killer-beheading-video-story-top Police Identify Three Victims Killed in Brookeville Shooting
May 09, 2018 - 00:42
Snyder had been holding his wife hostage or whether he had some other specific grudge against the family across the street. He shot himself around 11 p.m. shortly after tactical officers forced their way into his residence.

isis-killer-beheading-video-story-top Duchess Fergie reportedly snubbed from royal wedding reception
May 08, 2018 - 02:09
Doria Ragland is set to appear in a "groundbreaking" interview on the Oprah Winfrey show where she will open up about the difficulties Meghan has faced.

isis-killer-beheading-video-story-top Ivanka, Kushner to attend opening of US Embassy in Jerusalem
May 08, 2018 - 02:07
The worldwide community considers the annexation illegal and considers east Jerusalem as occupied territory. Isolated globally, the Trump administration has gone ahead with its plans to open its embassy in Jerusalem.

isis-killer-beheading-video-story-top Predicting the Cleveland Browns Roster
May 08, 2018 - 02:07
I am a team-oriented guy. "I'm sure it's opened discussions to, 'These guys have done it, why can't Baker do it?'" He was quick to say if anyone is going to turn around a franchise like the Browns, it would be him.

isis-killer-beheading-video-story-top Childish Gambino drops powerful music video
May 08, 2018 - 02:02
However, that was SZA making a cameo at the very end, giving us hope that future collaborations are coming. One of the lyrics is "Grandma told me: get your money, black man".

isis-killer-beheading-video-story-top Woman bets $18, wins $1.2 million on Kentucky Derby
May 08, 2018 - 02:01
Lukas has won the Preakness six times. "I really thought I was going to get there", Good Magic's jockey, Jose Ortiz, said. At the three-eighths pole I thought, 'Man, he better be a really good horse.' We saw another gear that we hadn't seen yet.

isis-killer-beheading-video-story-top Manchester United thanks football world for supporting Sir Alex Ferguson
May 07, 2018 - 15:04
He is the one who brought me to the club and gave me that opportunity to play for one of the biggest clubs in the world. There was a really sombre mood yesterday evening and this morning. "You really think Sir Alex is indestructible".

isis-killer-beheading-video-story-top John McCain Reportedly Wants Barack Obama, George W. Bush to Give Eulogies
May 07, 2018 - 15:02
McCain calls failing to go against the advice of some advisers to pick Lieberman "another mistake that I made". Arizona Senator John McCain has reportedly expressed his desire, or lack thereof, to have President Donald J.

isis-killer-beheading-video-story-top Intel Corporation's (INTC) Data-Center Business Helps Fuel Earnings Beat
May 07, 2018 - 15:01
On Wednesday, January 3 the firm has "Sell" rating given by Rosenblatt. (NYSE:HON) on Monday, January 22 with "Buy" rating. Connor Clark And Lunn Investment Limited holds 0.02% or 18,650 shares. 14,550 are owned by Fairfield Bush. (NASDAQ:DAVE).

isis-killer-beheading-video-story-top United States lashes out at China over 'THREATENING' letters - 'It is ORWELLIAN nonsense!'
May 07, 2018 - 15:00
The White House on Saturday condemned Chinese efforts to control how U.S. airlines refer to Taiwan, Hong Kong and Macao as "Orwellian nonsense".

isis-killer-beheading-video-story-top Pakistan's Interior Minister Injured in a Shooting at Election Rally
May 07, 2018 - 14:59
Militant attacks in Pakistan have fallen sharply over the past few years, but still pose a threat to carry out assassinations. No motive for the crime has been announced, but Iqbal has been a vocal supporter of religious minorities in Pakistan.

isis-killer-beheading-video-story-top Trump attorney not ruling out his taking the 5th Amendment
May 07, 2018 - 01:01
Besides Daniels, former Playboy model Karen McDougal claims she was intimate with Trump "many dozens" of times from 2006 to 2007. The president had said he did not know about Cohen's payment or where Cohen got the money.

isis-killer-beheading-video-story-top New York Yankees 2B Gleyber Torres cracks 1st Major League Baseball home run
May 06, 2018 - 00:13
Two batters later, Aaron Judge rocked a solo shot over over the wall down the left-field line, his eighth blast of the season. Torres is the second Yankee since 1999 to hit a three-run HR for his first career homer (also Colin Curtis on 7/21/10 vs.

isis-killer-beheading-video-story-top In The Bender Kitchen: Getting ready for Cinco de Mayo
May 06, 2018 - 00:12
The fifth of may celebrates the day the Mexican Army beat France at the battle of Puebla during the Franco-Mexican War. While the holiday's roots are in Mexico, it's actually a minor holiday there and is celebrated much more in the U.S.