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Bill Gates Says Cryptocurrency Paves Way for Crime, Would be 'Great to Get Rid of That'

File photo of Bill Gates. (Reuters)

File photo of Bill Gates. (Reuters)

Bill Gates reportedly expressed his dislike for the digital asset in a recent interview with the Wall Street Journal wherein he was asked which technological advancement the world could do without.

Microsoft co-founder and philanthropist Bill Gates has said cryptocurrency paves way for certain criminal activities and it would be “great to get rid of that”.

According to a report in Moneycontrol.com, Gates expressed his dislike for the digital asset in a recent interview with the Wall Street Journal wherein he was asked which technological advancement the world could do without.

“The way cryptocurrency works today allows for certain criminal activities. It would be good to get rid of that,” the billionaire technocrat was quoted as saying.

On second thought, he reportedly said humanity could do without bioweapons, as they really are a “bad thing”.

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The leading technologist also believes that cryptocurrencies are prone to abuse by hackers and is used for money laundering.

In an old interview he gave to CNBC two years ago, Gates had maintained a more neutral stance on the decentralised digital currency that was developed in 2009.

“I do not own bitcoin. I’m not short bitcoin, so I’ve taken a neutral view.”

“I do think moving money into a more digital form and getting transaction costs down, that is something the Gates Foundation does in developing countries,” Gates had said.

The world’s second richest man with net worth of $123 billion, had further said: “Bitcoin can go up and down just based on the mania or whatever the views are, and I do not have a way of predicting how that will progress.”

Recently, world’s richest man and Tesla chief Elon Musk had sent the Bitcoin stocks flying by expressing his support to the digital note.

first published:February 19, 2021, 18:35 IST