In previous media interviews, the world’s second richest man has been quoted saying that Bitcoin is “better than currency,” and that it “is exciting because it shows how cheap (transactions) can be.”
Although last Tuesday, the billionaire focused instead on the downsides of Bitcoin. He pointed out that the cryptocurrencies don’t reveal the name of their holders in the way a credit card statement might.
“The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing,” he 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.”
Gates also commented on how cryptocurrencies did not require face-to-face interaction.
The Bill and Melinda Gates Foundation also released a software in October, in partnership with Ripple, in a bid to make it cheaper for developing countries to build financial services infrastructure.
