Bill Gates: "Cryptocurrency is Useless... Just a Scam"

Photo=Alexandros Michailidis / Shutterstock.com

Bill Gates, co-founder of Microsoft, has expressed a negative view on cryptocurrency.

In an interview with the New York Times on the 30th (local time), Gates responded to a question about the value of cryptocurrency by saying, "It has no value (None)." He added, "Even people with high IQs are deceiving themselves into believing that cryptocurrency has value."

Gates has consistently expressed a skeptical stance on cryptocurrency. In a previous AMA (Ask Me Anything) on Reddit, he stated, "I like investing in things that have value. I don't own any cryptocurrency," and criticized that "cryptocurrency does not contribute to society."

The sentiment within Microsoft regarding cryptocurrency is not much different. In a shareholder vote conducted last December, only 0.55% of shareholders supported a 'Bitcoin investment strategy.' The Microsoft board also urged the rejection of the proposal before the shareholder vote, citing the high volatility of cryptocurrency.