London Daily

Focus on the big picture.
Thursday, Jul 03, 2025

Bill Gates Reveals Why He's Not Investing in Bitcoin

Bill Gates Reveals Why He's Not Investing in Bitcoin

Launched in early 2009, the blockchain-based cryptocurrency is now considered the world's biggest by market capitalisation and the amount of data stored on its blockchain.

Microsoft Co-founder and multi-billionaire-turned-philanthropist Bill Gates doesn't appear to be a fan of Bitcoin.

During a live chat on the social network Clubhouse with host Andrew Sorkin, Gates called himself a "Bitcoin skeptic" and said he hadn't invested in the cryptocurrency because it's bad for the environment.

“Bitcoin uses more electricity per transaction than any other method known to mankind. So it’s not like a great climate thing,” Gates explained.


“If it’s green electricity and it’s not crowding out other uses, eventually maybe that’s OK. I don’t see the topics as deeply related, even though you might label me a Bitcoin skeptic — that is, I haven’t chosen to invest money," he said. "I buy malaria vaccines. I buy measles vaccines. I invest in companies that make products. It’s not a ‘Hey, somebody’s going to buy this for more money than I paid for it.’ But if other people find their fortune that way, I applaud them.”

Gates and his wife Melinda set up the Bill & Melinda Gates Foundation, which strives to enhance healthcare and reduce extreme poverty across the globe, while also combating transmissible diseases and funding vaccination programmes.

Gates previously commented on other rich tech players' fascination with Bitcoin, saying that “if you have less money than Elon, you should probably watch out."

"Elon has tonnes of money and he's very sophisticated, so I don't worry that his Bitcoin will sort of randomly go up or down," he told Bloomberg.


Bitcoin has seen massive growth of late, gaining 700 percent in value in a year, before dropping in the past few days to $44,286 from $58,354 at its peak over the weekend.

Before it reached its record value, the cryptocurrency enjoyed explosive growth due to Elon Musk’s recent activity in the crypto-investment field, among other things.

Major electric car manufacturer Tesla announced that it invested $1.5 billion in the cryptocurrency in January. It came after the company adopted an updated investment policy that's favours alternative reserve assets, such as digital assets, gold bars, and exchange-traded funds.

Comments

James Pierson 4 year ago
Whata load of BS: The energy consumed by the bitcoin (129.22 Twhr) is the price of freedom from monetary corruption. Approximately equaling the energy consumption of Norway with a population of 5.3 million people; representing 0.069% of the population of planet earth. For the first time in human history, humans have created a way to store value that cannot be corrupted by the powerful (spelled "GATES") or by governmental decree. The total energy consumption of the Bitcoin network is trivial in comparison to the energy required by global financial systems ie: to build, to staff , to govern and to operate them. When the self righteous espouse altruistic misinformation like this, they might just be driving the price down so they can accumulate bitcoin in the background. I see Bill Gates in the picture associated with this article but I hear his buddy, good old Warren Buffet speaking into his uninformed ear.....

Newsletter

Related Articles

0:00
0:00
Close
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
×