NEW YORK - Bill Gates has said that cryptocurrencies and non-fungible tokens (NFTs) are “100% based on greater fool theory”. Speaking at a TechCrunch conference, the Microsoft co-founder said he’s “not long or short” on crypto and mocked Bored Apes NFTs, quipping that “expensive digital images of monkeys” will “improve the world immensely”.
He added: “I’m used to asset classes, like a farm where they have output, or like a company where they make products.”
CNN noted that his comments come as bitcoin and other cryptocurrencies are crashing.
