Bill Gates Slams Cryptocurrencies as "Useless" Amidst Market Boom

Bill Gates, the former Microsoft CEO, recently expressed his skepticism about cryptocurrencies, describing them as "useless" in an interview with the New York Times. Gates, who has a net worth of over $165 billion, has previously warned about the risks of investing in cryptocurrencies, urging people to be cautious and not to get carried away by the hype.

Gates' comments come at a time when cryptocurrencies, particularly Bitcoin, have seen significant growth in value. However, he remains unconvinced and has stated that he will not be investing in them. Despite his reservations, many influencers and investors, including President Donald Trump, have launched their own cryptocurrencies, prompting concerns about the potential risks.

Gates has previously spoken out against cryptocurrency investments, warning that people could get carried away and spend money they cannot afford to lose. In 2021, he had a viral interview with Bloomberg, where he expressed his concerns about the volatility of cryptocurrencies and the potential for people to lose significant amounts of money.

Last year, Bitcoin reached an all-time high, but experts have expressed concerns about its future. Glen Goodman, author of "The Crypto Trader," projected that Bitcoin could reach a peak value of $120,000 by January 2025. However, the bullish Bitcoin market may also indicate that the token is approaching a theoretically red line, and a sudden drop in value could follow.

Gates' advice for traders is to stay alert and not get caught up in the dream of making overwhelming money. Instead, he urges people to know when to buy and sell, as holding onto tokens for too long may result in a characteristic downturn. He understands that the crypto investment trend is unlikely to fade out, so people need good advice to stay alert and make informed decisions.