Bill Gates: Crypto and NFTs ‘100% Based on Greater Fool Theory’

Billionaire Microsoft co-founder Bill Gates has dismissed investments in cryptocurrencies and NFTs, arguing that the digital assets market is largely driven by speculation.

The greater fool theory refers to the idea that one can make money by investing into overvalued assets and selling them for a profit later, because there will always be someone else who will come along and pay a higher price. “Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically, in a reference to the popular Bored Ape Yacht Club (BAYC) NFT collection that attracted billions of dollars and celebrity endorsements.

Leave a Reply

Your email address will not be published. Required fields are marked *