Our colleagues from The Sun returned to an interview Bill Gates gave Bloomberg at the beginning of 2021 that turned out to be exceptional overall for the price of cryptocurrencies. In February 2021, Elon Musk tweeted the word $DOGE in reference to Dogecoin, a crypto part of the meme. And to add to the tweet “Dogecoin is people’s cryptocurrency” – almost instantly causing a price increase of nearly 60%.
Later in the year, the entrepreneur toyed with the idea that we could buy Teslas with Bitcoin and Dogecoin before giving up (which caused a new explosion in traffic, and then prices fell…). Several investors have been advising for some time not to follow Elon Musk’s advice on crypto. They also wish the entrepreneur would stop tweeting about it.
Bill Gates recommends ignoring all Elon Musk’s encrypted tweets
Some of Elon Musk’s followers have already been able to take advantage of the price hike caused by the hype of his tweets. But many other investors are also losing a lot of money, based on mainstream interventions. All at the wrong time and often unjustified. This is also the opinion of Bill Gates.
He explains: “Elon has a lot of money and he is very sophisticated, so I am not worried about his bitcoin accumulation. I think some people get into this kind of obsession even though they don’t have that much money, so I am not optimistic about bitcoin. My bottom line is : If you have less money than Elon, beware“.
Despite his reflections on the subject, Elon Musk remains somewhat loyal to cryptocurrency: Tesla currently owns the equivalent of more than $2 billion in Bitcoin after an initial investment of $1.5 billion at the beginning of 2021. He also has personal crypto wallets, with Investments mainly in Bitcoin, Dogecoin and Ethereum.
However, the exact amounts he spends on his personal crypto investment is kept strictly confidential. A rumor suggests that Elon Musk may be the person behind Satoshi Nakamoto, the pseudonym of the mysterious Bitcoin creator. The theory has since been denied by the same interested party.