Bill Gates is Not Here for NFTs, Says They are “100 Percent Based on Greater Fool Theory” [Video]

Bill Gates isn’t the biggest fan of NFTs and calls them “100 percent based on greater fool theory.” While speaking at an event on climate change hosted by TechCrunch, Bill Gates said he rather do business with “tangible outputs” and not NFTs.

What makes the list in Gates’ books? Factories, farms, or a company that makes products, and NFTs and cryptocurrencies do not qualify for his bid, but can you really blame him? Many people still remain suspicious of what is going on with NFTs and the new world of digital money, cryptocurrency. 

Well, Gates said, “I’m not involved in that. I’m not long or short in any of those things.” He then jokes, “Obviously, expensive digital images of monkeys are going to improve the world immensely,” referring to the Bored Apes project. 

But, this isn’t the first time Bill Gates has been skeptical about cryptocurrency. He’s expressed his fear of investors getting involved with the newly popular medium of exchanging money in 2021. He even offered some advice.

“My general thought would be that if you have less money than Elon, you should probably watch out.”