Gates isn't planning to back: Bitcoin. The price of one bitcoin briefly soared 2,000 last year to above 19,000 in mid-December. with Berkshire's 2018 annual meeting in the books, users can revisit the highlights in cnbc's. You always have the choice to experience our sites without personalized advertising based on your web browsing activity by visiting the. "There's some really good technology in terms of sharing databases and verifying transactions that is talked about as blockchain, that is a good thing Gates tells cnbc. "I would short it if there was an easy way to.". "I literally own zero cryptocurrency, apart from.25 BTC that a friend sent me many years ago Musk tweeted. "As an asset class, you're not producing anything and so you shouldn't expect it to go up Gates says on "Squawk Box." "It's kind of a pure ' greater fool theory ' type of investment. Securities and Exchange Commission and Commodity Futures Trading Commission are meeting Monday could also be having a negative pull on prices. But despite his current concerns with cryptocurrencies, Gates remains interested in the blockchain technology behind bitcoin, the digital ledger where transactions are confirmed and recorded. It's kind of a pure 'greater fool theory' type of investment Gates said.
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Bitcoin has recovered roughly 40 percent from the lows around 6,700 last month but has been unable to break the 10,000 level. EU Data Subject Requests. "While Bitcoin is not under direct scrutiny, the ramifications of this meeting could affect the entire global crypto market said Joe DiPasquale, CEO of BitBull Capital. "The hesitation we are seeing right now could easily bad luck brian bitcoin be broken and lead to a fresh rally, should a favorable tone be set by officials in attendance.". "The government's ability to find money laundering and tax evasion and terrorist funding is a good thing Gates wrote. "As an asset class, you're not producing anything and so you shouldn't expect it to.