Cryptocurrencies Cause Deaths, Claims Microsoft’s Bill Gates In Reddit Session

News | February 28, 2018 By:

Microsoft cofounder Bill Gates has spoken out about cryptocurrencies for a Reddit “Ask Me Anything” session. Bottom line: He’s not a fan.

The Reddit sessions allow anyone to ask questions and the subjects to expound on anything they wish. Gates claimed during his AMA that bitcoin allows people to buy drugs, hurts tax collection efforts, and hampers efforts against terrorism.

Gates said 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.”

He added: “I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long.”

Gates also expounded on his beer drinking, the celebrities he’s met, and whether the world would see another financial crisis to rival that of 2008. To the last question, Gates said that another crisis is a certainty.

“Despite this prediction of bumps ahead, I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere,” he said.