Microsoft Chairman Bill Gates Is Non-Committal Towards Bitcoin

News / 18.02.2021

Microsoft Chairman Bill Gates has hinted that he has little interest in Bitcoin despite its recent rise in value. This comes after Microsoft revealed that it has no plans to add bitcoin to its portfolio. 

 Bill Gates Neutral on Bitcoin (BTC) 

During an interview today on American news outlet CNBC, Bill Gates made his opinion when asked about his view on how the enormous energy generated by bitcoin miners affects the environment. 

Gates replied that he does not own bitcoins or short bitcoins. He also stated that the idea of moving money into a more digital form and getting transaction fees down is something that his foundation does in developing countries. 

However, in an apparent dig at bitcoin, Gates added that his foundation ensures that such transactions are reversible for transparency purposes. He also suggested that one of the problems of bitcoin is its volatility. “Bitcoin can go up and down based on the media or whatever the views are. I don’t have a way of predicting how that will progress”. He concluded. 

Microsoft Has No Plans To Purchase Bitcoins

Bill Gates’s sentiments about Bitcoins echo that of his company Microsoft. The Tech giant recently revealed that it has no plans to add bitcoins to its balance sheet. Tesla’s recent investment in Bitcoins had led to speculation regarding the next fortune 500 company that will invest in the leading coin. Microsoft had been speculated by some media outlets of having plans to add bitcoins. 

However, in a February 16th interview with CNN, Microsoft president Brad Smith revealed that the company has no plans for bitcoins. In his own words, Smith stated that he was not aware of any move to add the leading cryptocurrency. “I haven’t heard any new conversation about Bitcoin. But let me say, if we change our investment policy on Bitcoin, Julia, you will be the first of at least the second to know,” he said. 

Despite this, Smith did not rule out a future change in policy from the tech giant. However, with Bill Gates’s recent statements, it is unlikely that a policy change will occur in the short term. Nevertheless, Bitcoin continues to make massive gains, with the coin hitting the $50k mark earlier in the week. At the moment, Bitcoin has a market cap of $948 billion, a long way from Microsoft, which amounts to $1.8 trillion.

Olowoporoku Adeniyi is a blockchain enthusiast and crypto evangelist. Currently he loves all things crypto and covers happenings within the blockchain space.