Bill Gates: To avoid investing in Bitcoin

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Microsoft founder Bill Gates called for avoiding investing in the “Bitcoin” currency, after statements in favor of Bitcoin by billionaire Elon Musk contributed to the currency’s skyrocketing recently.

In an interview with “Bloomberg”, Gates directed Bitcoin investors, saying: “Any investor who does not have as much money as Musk has, should avoid investing in Bitcoin.”

“Random bitcoin price fluctuations are not a concern for people like Musk who has a lot of money, while the risks will be worrisome for others,” he added.

Cryptocurrency markets have witnessed frenzied activity this year as top wealth and corporate managers began to take the emerging class of assets seriously, pouring money into the sector and raising confidence among small speculators.

An investment of $ 1.5 billion by electric car maker Tesla in the cryptocurrency this month helped raise the value of Bitcoin above $ 50,000, but it may now put pressure on the share price of the company, which has become highly vulnerable to Bitcoin’s moves.





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