Home > Talks > Cryptocurrencies is ‘super risky’ and have caused death ‘in a fairly direct way’ ~Bill Gates

Cryptocurrencies is ‘super risky’ and have caused death ‘in a fairly direct way’ ~Bill Gates

Bill Gates, the philanthropist and former chief executive of Microsoft, is concerned by the crytocurrency craze, saying that the anonymity offered by the new technology has “caused deaths in a fairly direct way”.

Speaking during a Reddit AMA, Gates argued that “the government’s ability to find money laundering and tax evasion and terrorist funding is a good thing.

“Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.” In contrast to cash, which is also untraceable, cryptocurrencies can be used remotely, which removes another avenue of control, he added.

Read Also:  Bill & Melinda Gates Foundation to help repay Nigeria’s $76m Debt

Gates also suggested that investing in the sector is a bad idea: “I think the speculative wave around ICOs and cryptocurrencies is super risky”.

 

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