Uncategorized

Bill Gates: Bitcoin Shows How Cheap Sending Money Can Be

Jayanand Sagar | October 2, 2014 | 4:35 pm
Uncategorized

Bill Gates: Bitcoin Shows How Cheap Sending Money Can Be

Jayanand Sagar | October 2, 2014 | 4:35 pm

Ever wonder what one of the world’s richest men thinks about bitcoin? Well, you’ve already heard from business magnate Warren Buffett of Berkshire Hathaway (hint: if you haven’t, he’s previously said it’s not a currency and telling investors to stay away).

Bill Gates, with a net worth over $80 billion USD according to Forbes, has spoken up again on the topic of digital currency. And while he didn’t get into terrible amount of detail on his opinion, he says that bitcoin is “exciting” because of the fact that it can show how cheap sending money can be.

Here’s what he told Bloomberg‘s Erik Schatzker on the Street Smart program this week:

[blockquote style=”2″]Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have be physically in the same place and, of course, for large transactions currency can be pretty inconvenient. [/blockquote]

He’s right. Sending money the traditional way can be a hassle, particularly when you’re dealing with large sums. But it’s more about the technology for Gates.

He adds:

[blockquote style=”2″]Bitcoin technology is key and you can add to it or build a similar technology…[/blockquote]

Here’s the clip:

Previously, Gates has called bitcoin a technological “tour de force” and has said that digital money may help some of the poorest people on Earth in the next five years.

Tags: , , ,    

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Casinos

Choose from the top online casinos
in UK and enjoy the fun!

Read More  ›

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.