Saudi Press

Saudi Arabia and the world
Saturday, Jul 12, 2025

Bill Gates Says He Would Eagerly Get Rid of Cryptocurrency

Bill Gates Says He Would Eagerly Get Rid of Cryptocurrency

The Microsoft co-founder has never had any illusions about digital money, having previously expressed concern about it being decentralised and thus poorly protected against illicit financial schemes. However, he recently didn’t fully rule out using it in his foundation’s transactions.

Bill Gates has hinted that he is no fan of bitcoin and other digital assets, pointing out in a recent interview with The Wall Street Journal:

“The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that”, he said, adding: “I probably should have said bio weapons. That’s a really bad thing”.

As MarketWatch put it in its story, the comments from the Microsoft co-founder and philanthropist do not necessarily imply that he is himself not a bitcoin enthusiast, but suggest that he sees cryptocurrencies as being prone to be used by fraudsters in money-laundering schemes, for instance.

Speaking in a sit-down with CNBC that aired on Thursday, Gates, who has in recent years been fully preoccupied with work on his health and wellbeing-focused Gates Foundation, described his stance as “neutral”, thereby sounding more balanced with regard to digital tokens, among which bitcoin famously became the flagship back in 2009.

“I don’t own bitcoin, I’m not short bitcoin, so I’ve taken a neutral view”, he said in the interview, which aired on CNBC’s “Sqawk Box” show, adding that he himself also has certain plans in this regard:

“I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries”, he noted, saying that while the cryptocoin may fluctuate “based on the mania or whatever the views are”, he cannot predict the ways how the flagship currency may evolve.

His vision of the cryptomoney seems to have softened to a great extent over time, as back in 2018, the tech mogul was explicitly sceptical about the future of the coin:

“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 two years ago.

Prices of the blockchain-based cryptocurrency skyrocketed to above $52,000 on Thursday, reaching a new historic high, and have gained nearly 80% so far in 2021, whereas the start of the year saw gold, an asset that bitcoin is often pit against as a rival “safe haven”, go down 6.4%.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
×