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Microsoft Corp. co-founder Bill Gates said in an interview on Friday that he would never use cryptocurrencies to diversify away from the dollar.
‘Mania-Driven Asset’
During an interview with APT News, Gates was asked if he were “forced” to move a small part of his portfolio out of the dollar, what would he choose: the euro, the Chinese yuan, gold, or <a href="https://xpertsstudio.com/new-cryptocurrency-pepeto-steals-the-show-as-sec-drops-first-crypto-rule-and-presale-hits-10-9-million/” title=”New Cryptocurrency Pepeto Steals the Show as SEC Drops First Crypto Rule and Presale Hits $10.9 Million”>cryptocurrency.
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The tech tzar was quick to reply, “I wouldn’t choose crypto,” adding that he’s a well-known skeptic of “pure mania-driven assets.”
If Not Crypto, Then What?
Turning to other assets, Gates said he had missed the gold rally and predicted that the euro would not rise significantly.
“I think a basket of equities in general is your best long-term. Ideally, a globally balanced basket of equities,” stated Gates, who was the world’s richest individual for many years.
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Gates Remains Unconvinced
Gates’ skepticism about cryptocurrencies goes a long way.
During an interview in 2018, he described Bitcoin as a kind of pure “greater fool theory” type of investment
Gates said he would bet against the cryptocurrency if given the opportunity.
Later in May 2022, he revealed that he doesn’t hold any cryptocurrencies and that he prefers things with “valuable output.”
When Gates made this remark, Bitcoin was priced at $30,314.33 apiece. Today, its price has swelled to $78,060, representing an upside of 157%.
Photo courtesy: Alexandros Michailidis / .com
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Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.
Source: finance.yahoo.com