Microsoft founder Bill Gates, was referring to the way cryptocurrencies (especially Bitcoin) are generally used to buy drugs. In an interview on Reddit, he mentioned that the anonymity of Bitcoin is a problem. This situation is abused by terrorist organisations link to drug trafficking and money laundering.
Some people criticised him about this views. They say he was ill-informed on cryptocurrency technology.
He said that the main principal of bitcoin is its anonymity. And because of that government’s ability to fight with money laundering and tax evasion is getting difficult. In his speech on this subject, he said the bitcoin is generally used by this terrorist organisations to buy and sell drugs like fentanyl and other drugs so this technology causes deaths in a direct way.
He said this technology will come to a bad end in the near future.
But Bill Gates was not so pessimistic and cynical about cryptocurrency before. In 2014, he gave an interview on Bloomberg and during this interview, he praised the bitcoin currency mostly.
I really wonder why he discredited cryptocurrencies like this. Why didn't he give any positive view in his speech? I think he thinks he will lose some of his income in the near future because of this technology.
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