Bill Gates Says Crypto-NFT Is A Fooler Theory

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Bill Gates not an investor incrypto or NFT

CNBC reported that during a talk show on TechCrunch about the changing economic conditions on Tuesday. Billionaire co-founder of Microsoft Mention this phenomenon that “Based on the 100% Bigger Stupid Theory”, which refers to the idea that assets keep rising in value, but investors still make investment decisions in the hopes of increasing future profits.

Gates joked that “digital portraits of expensive monkeys” would “immediately make the world a better place,” referring to the hugely popular Bored Ape Yacht Club NFT collection.

NFT is a non-tradable token. It is often touted as a method of proving ownership.digital assets such as art or sports collectibles. But critics consider NFT to be exaggerated and potentially harmful to the environment. Due to the power-hungry nature of crypto, many NFTs are built on the network behind the blockchain. Ethereum which istokenthe second largest

Gates states, “I’m used to asset classes … such as productive farms. or like the company they produce the product.” But for crypto “I’m not involved in that,” he added. “I don’t invest long term or invest short term in those things.”

cryptofell sharply this week after Celsius, Crypto Lending Company Temporarily Suspends All Account Withdrawals The collapse raised fears of bankruptcy in Celsius. and its potential impact on other parts of the crypto market. As for Celsius, it is said that “Working all the time for our community”

The crypto world became increasingly unreliable after the collapse of the so-called Stablecoin UST. It was supposed to be worth $1, which is LUNA’s price fixer, with the two tokens totaling $60 billion.

Bitcoin last traded at $22,522.13 on (June 16, ’22 at 7:00 a.m.), up 1.48% over the past 24 hours. The world’s largest cryptocurrency has already lost half its value since the beginning of 2022.

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