NFTs and cryptocurrencies
Crypto Trends & News

Bill Gates’ warning about the famous NFTs and cryptocurrencies

-It is not the first time that the tycoon has shown his distrust of the world of cryptocurrencies.

-The BofA warning about the financial collapse of bitcoin.

-The ECB reports on the risk of financial stability: “The probability of a technical recession is greater.”

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The cryptocurrency market is in a complicated situation. The debacle of the FTX platform, after declaring bankruptcy just a few days ago, has deepened the instability of cryptocurrencies, directly impacting the value of some digital currencies, such as Bitcoin and Ethereum.

Just a year ago, investments in these currencies were multiplying and the famous NFT too became popular. However, in a few months, its decline has been pronounced for investors. NFTs or ‘non-fungible tokens’, are a type of cryptographic token that uses blockchain technology to operate. But even Bill Gates himself has already spoken about these famous NFTs and cryptocurrencies.

Based on the “Dumbest Theory”

In June 2022, during a conference organized by TechCrunch, the tycoon assured that NFTs are 100% based “on the dumbest theory,” since, according to the founder of Microsoft, there will always be someone willing to pay for securities at a higher price.

I even joke about the popular ‘Bored Apes’ and its viralisation. “I’m sure expensive digital images of monkeys will greatly improve the world,” he said. Gates added that he still preferred to invest in companies that created real products.

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