- Bill Gates claims he is neutral as he neither owns nor shorts Bitcoin.
- Gates is still critical of Bitcoin although he admits it has some benefits.
- Some believe Gates’ comments mean Microsoft will soon adopt Bitcoin.
Microsoft Founder Bill Gates claimed on Squawk Box , “I don’t own Bitcoin. I don’t short Bitcoin,” thus his opinion is neutral. His comments left some wondering if Microsoft will soon adopt Bitcoin.
However, the question of Bitcoin (BTC) came up in the context of The Gates Foundation and not Microsoft. Nonetheless, some Twitter users believe that his response indicates that Microsoft will soon add Bitcoin to it’s balance sheet.
In fact, Gates’ response was rather critical of BTC. He however admitted that a digital form of currency is beneficial as it reduces transaction costs. He further said that the Gates Foundation uses digital currency in developing countries. However, Gates noted that he is not a fan of BTC’s anonymity and inability to reverse transactions.
Gates also cited the volatility of BTC and the ‘mania’ behind it as a cause for concern. This volatility makes Bitcoin too unpredictable in his opinion.
In addition, Gates stepped down from the Microsoft board in 2020. At the time Gates owned about 1.36% of Microsoft shares, making him one of its top shareholders. As such, Gates even said that stepping down did not mean he would stop being involved in shaping the company’s vision and goals.
With this in mind, it seems Gates’ opinion regarding Bitcoin might affect if Microsoft will follow Tesla and add BTC to its books. Thus, based on his recent comments it is clear that Gates’ opinion though critical has softened from his 2018 comments.
In 2018 Gates called BTC a ‘greater fool theory’. He went on to say that he would short BTC if he could.
It seems that although Gates acknowledges the benefits of digital currencies he still is not keen on BTC. This view might lead to Microsoft perhaps developing its own crypto currency or adopting a stablecoin like USDT instead.