Conspiracy theorist plaything and celebrity billionaire, Bill Gates, has once again waded into the crypto debate, unleashing his inner Dunning Kruger to declare crypto and NFTs ‘100% based on greater fool theory’.
His 100% sweeping statement came as he spoke at the recent Techcrunch sessions on June 14, an altogether easy call to make during a difficult run in the crypto markets, and one notably caused in no small part to record levels of inflation set in motion by elderly billionaires.
Bill has often celebrated his disinterest in the crypto markets, reiterating his stance with surprising regularity. In this latest diatribe he stated that he preferred investing in assets with tangible outputs like farms and factories. However, seemingly oblivious to his previous role as head of a software company.
Whereas there remains no doubt that the crypto world contains a great deal of speculation and dubious grifting, a great deal of genuine innovation still exists. As such, asset-backed projects have began to shine during the latest downturn, decentralized fund raising has given investment power to the masses, and NFTs provide the potential to store the value of pretty much anything.
Regardless what the elderly billionaires have to say on the matter, crypto remains at the forefront of innovation.