If you've less money than Musk, watch out: Bill Gates on bitcoin

For Gates, it's not something Main Street should buy into - plus it's bad for the environment as mining the coins requires a lot of energy.

Yoojung Lee | Bloomberg
Bill Gates

Photo: Bloomberg

Unless you’re the world’s richest person, you shouldn’t be buying bitcoin. That’s the message from Bill Gates — the third richest.   With a rally of more than 400 per cent over the past year, bitcoin has become increasingly mainstream, and everybody, including prominent investors and policy makers, has been talking about it. The world’s on-again, off-again richest person, Elon Musk, recently invested $1.5 billion in the cryptocurrency through his company, Tesla, and said bitcoin would soon be accepted for payments.

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First Published: Feb 26 2021 | 2:53 AM IST

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