‘Those who like to invest in things with valuable outputs Bill Gates“The value of companies depends on how they make great products,” he said.
Billionaire Bill Gates, co-founder of Microsoft, recently attended the ‘Ask Me Anything (AMA)’ event on Reddit and announced that he is not dedicating some of his wealth to cryptocurrencies. Gates also argued that digital assets are not his business, emphasizing that he likes to invest in things that have “valuable output.”
Gates said on Reddit, “cryptocurrency“The value of a business is nothing more than what someone else decides to pay for it, so it doesn’t contribute to society like other investments.”
This announcement comes after Gates announced last year that he predicted digital currencies would eventually emerge as the main payment method in 2021.
Speaking about those who want to invest in crypto, Gates warned current and potential investors to be extremely careful when investing in BTC, as they may incur serious financial losses. While making this warning, Gates did not refrain from making a small irony, advising that anyone with less money than Elon Musk be careful (Gates included everyone, including himself, considering the fact that Elon Musk is the richest person in the world).
Meanwhile, Bill Gates bought the Canadian National Railway Co. for approximately $940 million. He sold his stake and cut back one of the largest holdings of the investment firm that controlled his $117 billion personal fortune.
According to the Securities and Exchange Commission Cascade InvestmentFrom April 27 to May 12, it vacated roughly 12% of its stake in the Montreal-based company, leaving about 9%, or $6.8 billion, of shares.
Cascade has been reducing its ownership of Canadian rail since at least May 2021, when the company owned about 13%. Justin Howell, one of Cascade’s investment managers, has been on the board of Canadian National since last year.
Gates, 66, the world’s fourth-richest person according to the Bloomberg Billionaires Index, recently had an argument with Elon Musk after he accused Gates of harming his environmental credibility by suspending Tesla Inc.
In an interview with the BBC this month, Gates acknowledged that the electric vehicle maker is indeed revealing its shares, saying it’s simply diversifying its investments.