In the realization of an event on climate change, the tycoon, founder of Microsoft, Bill Gates addressed the topic of Non Fungible Tokens (NFTs) and practically mocked the concept that gained a lot of fame during the year 2021.
The entrepreneur’s opinion is that NFTs are based on a theory he called «The Big Fool» which is a financial concept in which overvalued assets can generate monetization in case there is someone «dumb enough» to buy them for the imposed price.
This was expressed by Gates at a TechCrunch event, where he made it clear that he prefers to make investments in tangible things and assets, be they properties, products, etc. Therefore, in passing he made it clear that he has no intention of investing in cryptocurrencies either.
Another of the «mockery» that Bill Gates made was the fact that he considered NFTs as something «useless» textually expressed sarcastically «Obviously expensive images of digital monkeys will greatly improve the world» in reference to one of the most famous collections of non-fungible tokens, the Bored Ape Yacht Club.
In addition, he assured that this type of assets could be intended to avoid taxes or government rules, since he assured, a more complete regulation is needed in this regard.
However, this is not the first time that the founder of Microsoft makes comments against crypto assets, since since 2021, he declared in public that he had certain «concerns» towards Bitcoin, considering it as something volatile and that it could easily go to zeros.
These statements were made after Elon Musk (who is in favor of cryptocurrencies) invited users to buy one of the different digital currencies.
Currently there are more than 10 thousand different virtual currencies around the world and new ones come out every day. Within the 10 that concentrate a larger market capitalization, Bitcoin is listed first, followed by Ethereum, Tether, USD Stablecoin, BNBm Cardano, Binance USD, XRP, Solana and Polkadot.