Billionaire Warren Buffett says stocks remain the best option for investors not bonds, and especially not bitcoins. And to be fair, bitcoin and other cryptocurrencies had a hard weekend before Gates's comments.
Though some rich Billionaires have been trashing Bitcoin, a lot of the new age investors are extremely bullish on the impact Cryptocurrencies would have on the society.
Speaking about the financial crisis, he said that "things that we thought were hedges went away" and "broke down". So much so that a question about the soundness of investments in digital currencies was also raised during the Berkshire assembly.
"The fact that it's clever computer science doesn't mean it should be widely used, and that respectable people should encourage other people to speculate on it", he said.
2 found dead, 3 still missing in quake-hit Polish coal mine
The head of the Jastrzebie Coal Company, Daniel Ozon, said Sunday that the killed miner had worked for the company for 10 years. Still many of Poland's mines are risky , with methane gas that has led to a number of deadly explosions and cave-ins.
Gates told the network's Squawk Box show that "as an asset class, you're not producing anything and so your shouldn't expect it to go up", in specific relation to Bitcoin.
Charlie Munger, Warren Buffet, and Bill Gates, three staunch anti-Bitcoiner's, have shocked no one by talking negatively about cryptocurrencies. Munger had made similar remarks in February calling Bitcoin a total asinine arguing that many people get involved in cryptocurrency because they want easy money.
He additionally responded to a query from the viewers about bitcoin by saying that it and different crytpocurrencies "will come to unhealthy endings". Gates, who left Microsoft in 2014 and devotes most of his energies to his foundation, is a Berkshire Hathaway board member.
Indian fraudsters ridiculed after being paraded in 'space suits'
According to the police, the victim later found out that the "scientist" was working with the accused, and was being paid ₹20,000. Police said they had duped at least 30 people from Delhi, Uttar Pradesh and Uttarakhand.
Shorting is a method of trade where you bet against the market going down and make profits on the inverse of trends.
He added: "To me, it's just dementia".
He called the cryptocurrency the most insane and speculative tool in the world and a demonstration of the theory of a fool in its pure form.
Vegas Lists Golden State As Favorite Over Rockets In Western Conference Finals
Game 6 of that series, if necessary, would be Friday in Philadelphia, with a potential Game 7 scheduled for Sunday back in Boston. On Tuesday night, with Harden struggling, Chris Paul showed that he is the extra superstar that Houston was previously missing.