Bill Gates says you should only invest in Bitcoin if you have Elon Musk money
“If you have less money than Elon, you should probably watch out,” says Gates.
Bitcoin has seen a re-emergence in recent months, thanks in part to Tesla’s recent purchased of $1.5 billion in the digital currency. That helped propel the cryptocurrency 16%, but it has settled since.
Long story short? Probably not, unless you have Musk money. From Bloomberg,
“Elon has tons of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down,” Gates said in an interview with Bloomberg Television’s Emily Chang. “I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out.”
Elon Musk has long been a proponent of Bitcoin and other cryptocurrencies, often going to Twitter to boost things like Bitcoin and the meme-coin, Dogecoin.
Cryptocurrency is definitely finding its way into more mainstream offerings. Tesla is discussing letting buyers buy vehicles with BTC, PayPal offers crypto services now, and even Mastercard is exploring it.
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