‘The Fool’s Theory’: Bill Gates’ Tough Criticism of Cryptocurrencies and NFTs

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Bill Gates’ criticism was made during a lecture organized by TechCrunch

In finance, the “foolishest theory” starts with an investor doing something stupid in the hope that someone will later decide to do something even more absurd.

The first buyer pays an inflated amount of money for a good that he will soon put up for sale at an even more exorbitant price in an attempt to find someone even more “silly” to buy it.

In this dangerous game, what is traded can be tulips — as happened in the first big financial bubble in world history in the first half of the 17th century — or, according to Bill Gates’ latest statements, bitcoins.

The Microsoft founder stated at a conference in Berkeley, California, that the cryptocurrency and NFTs (digital tokens) market is based “100%” on the most foolish theory.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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