Bill Gates, one of the world's richest men, criticizedcryptocurrencies and non-fungible tokens as 100% based on greater fool theory at a TechCrunch conference earlier this month.
A tech billionaire reiterated his support for traditional investing over the craze, saying he was not long or short on virtual assets which have plummeted dramatically in price due to a wider downturn in the criptocurrency market. Since November,Bitcoin has dropped to dramatic new lows after reaching an all-time high of $68,000 last year.
I'm used to asset classes, like a farm where they have output, or like a company where they make products, Gates said.
He also took a dig at the Bored Apes Yacht Club BAYC, ironically saying that Expensive digital images of monkeys are going to improve the world immensely.