18:46Bill Gates Slams Bitcoin After Warren Buffett Praises Elon Musk and Tesla
Microsoft founder Bill Gates just slammed cryptocurrencies, including Bitcoin. He said, “It’d be good to get rid of that” while highlighting how cryptocurrency “allows for certain criminal activities” in an interview with the Wall Street Journal.
With this, Gates joined the legendary investors and Berkshire Hathaway CEO Warren Buffett — who has publicly expressed his hatred for bitcoin and other cryptocurrencies in the past. Before I discuss why the cryptocurrency market is extremely risky for small investors with a low-risk appetite, let’s explore what Gates and Buffett have to say about it.
Bill Gates slams Bitcoin
In his latest interview, Gates showered prases on Tesla (NASDAQ:TSLA) CEO Elon Musk. He believes “What Elon’s done with Tesla is fantastic,” calling it “…the biggest single contribution to showing us that electric cars are part of how we solve climate change,” adding, “We need a lot of Elon Musks” and “he should be very proud of what he’s done.”
Tesla’s big Bitcoin bets
After Tesla’s big bets on Bitcoin, the cryptocurrency market has recently seen a massive jump in its trade volume. Not many small investors know that the extremely volatile cryptocurrency market can ruin their years of saving in no time. The fact is you don’t need to buy Bitcoin to multiply your savings in the long term. You can do it the way Warren Buffett does it without taking unnecessary risks.
Invest money the Warren Buffett way
The demand for electric cars has surged in the last few years. Industry experts predict the 2020s to be the decade of electric and autonomous cars. That’s the reason even big tech companies like Apple (NASDAQ:AAPL) are ready to jump into the automotive industry.
The iPhone maker has secretly been working on its car project for years. It has poached many engineers and auto industry experts from many companies — including Tesla — lately. So, it shouldn’t surprise you if you see Apple launching its branded electric and autonomous car in the coming years.
One great EV stock to buy today
The company recently partnered with Amazon Web services to develop its integrated vehicle data platform. The platform would allow automakers to access and utilize vehicle sensor data in real-time. BlackBerry is also expanding its market share in China — the world’s largest car market. The company’s QNX Neutrino operating system — in partnership with Baidu — will soon be used in mass-produced EVs in the country.
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