It seems that to Bill Gates he doesn’t like them NFT and that is why he was blunt, burlesque and very ironic at an event on climate change organized by the media brand techcrunch.
The Microsoft founder commented that this NFT business is “100 percent based on the bigger fool theory,” the financial concept that even overvalued assets can make money as long as you find a bigger idiot to sell them to.
Gates said he preferred to invest in assets with tangible results, such as farms or factories, “or a company where they make products,” and that he had no position in cryptocurrencies or NFTs. “I’m not involved in that. I’m not long or short on any of those things,” Gates said, suggesting that he, too, was suspicious of assets designed to “avoid taxes or any kind of government rules.”
“Obviously, expensive digital images of monkeys are going to make the world a lot better,” Gates joked, referring to NFT’s flagship project, Bored Ape Yacht Club.
— TechCrunch (@TechCrunch) June 14, 2022