Bill Gates on crypto- NFTs are based on 'greater fool theory'

Bill Gates crypto stance

Bill Gates crypto, co-founder of Microsoft, has stated that cryptocurrencies and NFTs are "100% based on greater fool theory. I am neither long nor short any of those things," the tech mogul said of cryptocurrency. Bill Gates recently joked that "expensive digital photographs of monkeys" will "benefit the world enormously," alluding to Bored Ape NFTs. I am used to asset classes, such as a farm with output or a firm that makes stuff," Bill Gates crypto stated.

NFTs, according to Bill Gates Crypto, are tokens that cannot be swapped for one another. They are frequently promoted to establish ownership of digital goods such as art or sports collectables. However, given the energy-intensive nature of cryptocurrencies, many regard them as overhyped and damaging to the environment. Many NFTs are constructed on the Ethereum network, which is the second-largest token.

This week, cryptocurrency prices plummeted when Celsius, a crypto lending service, halted all account withdrawals. After the collapse of UST, a so-called stable coin that was supposed to be worth $1, and LUNA, its sister token, the wounded crypto industry was already licking its wounds. Bitcoin is currently trading at $21,173, a 7 per cent decrease in the previous 24 hours. Since the beginning of 2022, the world's largest cryptocurrency has lost more than half of its value.

In contrast to the Microsoft mogul, Bill Gates crypto views..

Visa rolls out Bitcoin cashback cards in Latin America

The payments giant Visa has introduced its first crypto cards in Latin America and will premiere its new goods in Brazil and Argentina through numerous new partner organisations. The company noted in a statement that the move "includes newly announced cryptocurrency card programs and collaborations" with regional finance providers and crypto exchange companies.

The incentive comes on the heels of Visa's previous, comparable crypto-related action in the region. Late last year, the business collaborated with the Argentine crypto exchange Lemon Cash to introduce a Visa card that provides clients with a 2% bitcoin (BTC) reward when they use the card to make payments. Visa is also launching a Visa Lemon Cash prepaid card in Argentina. Similarly, comparable solutions will be made available in Brazil in collaboration with the crypto-focused banking company Alterbank and the neobank Zro Bank.

According to a senior vice president of Visa's products and innovations in Latin America, the rationale for this decision is that the region's crypto ecosystem is gaining pace through more investment, higher consumer acceptance, and crypto-enabled use cases. This will enable them to collaborate on our plan to advance the future of cryptocurrency and payments for our customers, clients, partners, and consumers." This contrasts with Bill Gates' crypto view.