There’s a huge fuss about bitcoin currently and the fact that Tesla endorsed it by investing in it a lot of business people validated it. However, Microsoft founder Bill gates said in a live chat with BBC that he would rather invest in companies that make products citing malaria and measles vaccines as examples. When Mr. Gates was asked about Elon’s decision to invest in the virtual currency he said: “My general thought would be that if you have less money than Elon, you should probably watch out,Elon has tonnes of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down.” How has bitcoins value been since? Tesla made a big dive into the currency and purchased $1.5bn of the currency and planned to accept it as a payment, although the bitcoin value went up by 50% it later dropped by 20%. The virtual currency has been described as an inefficient way of conducting transactions. Bill Gates has long been skeptical about Bitcoin. In 2018 he said in an interview with CNBC that he would “short” it if he could. Short-selling, or shorting, refers to the practice of borrowing something (traditionally shares), selling them, waiting for the price to drop and then buying them back cheaper and returning them.
