Our colleagues from The Sun come back to an interview given by Bill Gates to Bloomberg at the start of 2021 which turned out to be exceptional overall for the price of cryptocurrencies. In February 2021, Elon Musk tweeted the word $DOGE in reference to Dogecoin, this crypto part of a meme. And to add in a tweet “Dogecoin is the crypto of the people” – almost instantly causing a price increase of around 60%.
Later in the year, the entrepreneur toyed with the idea that we could buy Teslas with Bitcoin and Dogecoin before giving it up (causing a new explosion, then falling prices…). Several investors have been advising for some time not to follow Elon Musk’s crypto advice. They would also like the entrepreneur to stop posting tweets on the subject.
Bill Gates recommends you ignore all of Elon Musk’s crypto tweets
Some of Elon Musk’s followers indeed manage to take advantage of the rise in prices caused by the buzz of his tweets. But many other investors are also losing a lot of money, based on sommen interventions. all untimely and often unjustified. This is also the opinion of Bill Gates.
He explains : “Elon has tons of money and he’s very sophisticated so I’m not really worried about his bitcoin backlog. I think some people get sucked into this kind of mania despite not having that much money, so I’m not very bullish on Bitcoin. My bottom line is: if you have less money than Elon, beware“.
Despite his reversals on the subject, Elon Musk remains rather faithful to crypto: Tesla currently holds the equivalent of more than 2 billion dollars in Bitcoin after an initial investment of 1.5 billion dollars at the beginning of 2021. He also has wallets personal cryptos, with investments mainly in Bitcoin, Dogecoin and Ethereum.
However, the exact sums he spends on his personal crypto investments remain a closely guarded secret. A rumor suggests that Elon Musk could be the one behind Satoshi Nakamoto, the pseudonym of the mysterious creator of Bitcoin. A theory since denied by the person concerned.